| If your pension is under performing and the stock | | | | want, you will maximize your profit from your |
| market is just costing you cash, then maybe | | | | investment. It's as simple as that and the reason |
| property letting is the route you should take to | | | | why it is key to research your intended market |
| secure your financial future. | | | | thoroughly. Ensure you understand the kind of |
| Buying a house and doing it up could be a sensible | | | | people you hope to rent to, and the lifestyle they |
| thing to do - especially if you have relevant | | | | lead. |
| building or decorating skills that you can use to | | | | Families renting a four bedroomed house want |
| keep the costs of the project down. | | | | space, a garden, safety and no fancy features |
| Buy to lets are very important to the UK | | | | that could be broken by the children. Professional |
| property market. In the last week, the British | | | | couples might want more of a show home and |
| Property Federation has said that property letting | | | | will be willing to pay a little extra for the perfect |
| is key to solving the perceived housing crisis in the | | | | location or feature in the home. |
| UK. | | | | Next up, you must remember to make your |
| It says that government research shows demand | | | | property neutral but not bland. To impress |
| for rented property is now 25 per cent higher | | | | tenants you need to declutter and depersonalize |
| than for houses purchased privately. And it | | | | the house before viewings. Unless they are |
| believes that difference will continue to rise if | | | | renting it furnished, they need to be able to |
| prices increase further. | | | | imagine that they will be happy there. |
| The BPF believes that it is only by renting a home | | | | Next in the list of property letting tips is to keep |
| that millions of people who can't afford to buy a | | | | the house in an excellent state of repair. A house |
| home are going to find somewhere to live. It | | | | in an excellent condition is much more likely to be |
| points to a similar development of property letting | | | | returned to you that way, whereas if it's a bit |
| in the United States and Germany. | | | | tatty, tenants are less likely to take care of it. |
| While the BPF believes the solution is a | | | | You are legally required to get the boiler serviced |
| professional rental sector where property | | | | each year, and you should ensure the electrics |
| managers run domestic lets on a large scale, as | | | | are up to scratch too. |
| with commercial property now, this situation | | | | Finally, ensure you tell your mortgage provider |
| presents clear opportunities for small investors - | | | | and buildings insurer what you are doing. It may |
| you. | | | | seem tempting to keep it quiet and save a little |
| So if you decide to go down that route, or indeed | | | | money, but any claims you have to put in may |
| you already have a home that you rent out to | | | | be rejected if they discover you are property |
| others, how can you make sure that you and the | | | | letting and haven't told them. |
| tenant are perfect for each other? | | | | For your tenants, the estate agent recommends |
| Estate agent Knight Frank recently issued a series | | | | they have references ready in plenty of time, ask |
| of tips for both landlords and their tenants to help | | | | for any improvements to the property to be |
| them get along. | | | | done before signing the lease, and commit to at |
| For you, the key thing to remember is that | | | | least a year's rental, so as to be more attractive |
| property letting is a business. And that means if | | | | to landlords. |
| you give the customer (the tenant) what they | | | | |