Which houses are best for buy to let ?
The most popular homes without a doubt in the current marketplace are three and 4 room semi detached houses. The inferior terrace household has taken a battering when it comes to attractiveness in the local area for first-time purchasers. The investment market for terrace homes is relatively strong but naturally investors are trying to find suitable profits on their investment opportunities. Typically a prospective landlord can pay not far off from £50 – £60,000 for the right terrace household.
There are actually buyers for the better and more highly-priced terrace houses but most of the potential first-time buyers in today’s market are financially in a position to miss out the terrace market altogether as well as go straight for the three bedroom semi – selling prices ranging from £100,000 up-wards. These types of prospective buyers are undeniably well financed, may likely have the backing of family members as they are competent to enter the market today further up the ladder.
You can still find a huge selection of potential first-time potential buyers around armed with 10 per cent deposits who definitely are still being refused by financial institutions on account of insufficient lending criteria. In the event that they were released into the market, it may be a different story but for now, semis are the bestsellers.
A significant proportion of home-owners aiming to rent their property will typically put some research into finding an appropriate letting agent so the management of the letting is within a professional’s hands.
Hiring a letting agent certainly has its advantages, they already have knowledge of the local market along with letting lots of properties, so they know how to market a property as well as find good tenants. They can also provide you with all of the required information and guidance you may require if you are letting a property for the first time.
What does a letting agent do?
A letting agent will take care of as much of the property management as you want them to – whether you want them to take care of the complete letting or simply a few legal aspects, they will help you with your preferences.
The standard tasks of letting agents in Dover include showing potential tenants around, opting for suitable tenants and vetting them (gathering credit checks, references and all other information you might need). They will also negotiate a price for rent, create tenancy agreements thereby making sure the property remains in tact throughout the tenancy, they usually hold recurring inspections to ensure the tenants are looking after your property. Full management of the investment property will usually mean you’ll be paying anything upto 12% of your current monthly rent in fees depending on individual companies.
Because Dover Letting Agency are members of UKALA (The UK association Letting Agents) you can rest assured that you are in great hands, give us a call and see what benefits we can offer you today ! 01304 268101
Call Us Today 01304 268101