Landlord Information: The Benefits Of Letting A Property
You may be considering letting your property for a number of reasons…
- *You may be working overseas and want to retain a stake in the UK housing market
- *You may have recently inherited a property
- *You may be one of a growing number of people, who view property as a key element in their investment portfolio and already have buy to let properties
Whatever your reason for letting, the private rental sector has never been more attractive.
Landlord information: Recent legislative changes have removed many of the uncertainties associated with letting, so that the landlord should always be able to regain possession of their property at the end of any letting period.
Financial returns from letting have become attractive in these difficult times where little interest is likely to be earned from a bank deposit account.
The availability of ‘buy to let’ mortgage schemes, and the ability to offset most costs associated with letting, against rental income for tax purposes.
Letting can provide both Income and Capital Growth.
Letting a property is easy. letting a property and taking full advantage of your opportunity, is less easy. Although a property management company will take a small percentage of the monthly rent, this is a price worth paying when compared with letting privately.
Property management companies are already fully conversant with the letting laws.
- Professionally assess the value so that you get the best rent in the current market
- Draw up the correct legal contract so that the landlord continues to have rights
- Deal with any disputes that arise
- Collect the rent
- Hold the deposit in a legal, secure, government approved scheme
- Regularly inspect the property and advise the tenants if they need to attend any aspect of the property condition
- Won’t return the deposit until the property has been assessed on vacation
For a small percentage of the monthly rent, most landlords prefer to enjoy their property ownership, and let a professional property management company handle their letting portfolio.