Bournemouth Buy to Let
Becoming a landlord
At Homes Direct, we advise landlords that they should view their property as investment and a business venture. You will want to make sure that service is both profitable and organised.
You will need to assess the following factors:
- Risk of a buy-to-let business
- Investment potential
- Your own personal skills
- Capabilities and whether you’ll be able to run a buy-to-let business
Deciding to become a landlord
Before considering letting out your property and becoming a landlord, you will have to be aware of the factors that could impact on you becoming a landlord. We have listed the following factors you need to be aware of:
- Do you have the spare time to oversee your property?
- Will you be ready to accept responsibility for safety issues?
- Are you willing to seek out information and facts?
- Will you be willing to consult for advice?
- Can you accept a risk element when conducting a business deal?
- Understand the profitability of the property you are planning to let
- Understand your legal obligation to the tenants and safety issues
- Be aware of your tax responsibilities
- Seek advice from a solicitor, tax specialist and mortgage broker regarding the best buy-to-let options