The Best Guide for the BR5 Area

Let It Be...Top tips for would-be landlords

Let It Be 

Over the last few years there has been a boom in the buy-to-let market and property programmes. With this growing number of buy-to-let investors, Ray Linton of Anthony Stuart Estate Agents in Edgware has some advice for would-be landlords.

The lettings market remains particularly strong. The area's easy access into Central London means it is popular with professionals and commuters.

If you are thinking of letting a property or becoming a buy-to-let investor, there are some important rules to remember:

• If looking to buy a property to let, ask your local agent what kinds of properties tenants are looking for and possible rental values before buying.

• Keep interiors clean and modern. Neutral décor with a modern kitchen and bathroom is always a hit with prospective tenants.

• Think about what kind of tenants you are looking for.

• Decide if you will let the property furnished or unfurnished (being flexible may secure a tenant quicker).

• If letting furnished, any upholstered furniture should comply with safety regulations or be removed.

• Have the property professionally cleaned (including carpets) and carry out repairs.

• A professional inventory should be prepared detailing the condition of the property and contents. This is important now the new Tenancy Deposit Scheme laws are in force.

• You must obtain your mortgage company's permission to rent out the property.

• Inform your insurer that the property will be rented - otherwise future claims may be invalid.

• Most importantly choose a lettings agent that is a member of ARLA for added security and invite them to carry out a free market appraisal.

Choosing the right lettings agent can be vital to finding the right tenants and maximising your rental income. Here are some top tips for choosing an agent:

1. Always choose an agent who is a member of a professional body such as the Association of Residential Letting Agents (ARLA).

2. Personal recommendation is always a good way to find out the best agents, so ask someone you know who has been a tenant or landlord for suggestions.

3. Check out the services an agent offers and find out what you will get for your money. Consider whether you want a ‘let only' or ‘fully managed' service. 

4. Choose an agent who has experience in letting properties similar to yours and who you think will attract the right kind of tenant.