When starting out as a landlord, it can seem very overwhelming and somewhat daunting.
There is so much to consider: property type, tenant type, whether to self-manage or let through an agent, compliance. The list goes on … and on!
Landlords now have to adhere to over 100 – Yes! One hundred – Government statutes and regulations, and these are constantly up-dating.
Northwood Director, Nick Harris, was recently interviewed by our colleagues at Property Tribes, on the basics of being a landlord and how to get started:
One quick and easy way to get going with Buy to Let, is to find a rental property that is already tenanted. These can be sourced via our Investor List.
The advantages of taking this approach are three-fold:
1. You buy a property that is already tenanted, so no void periods on completion.
2. You know the exact rental income the property is achieving, therefore you can be clear on the yield.
3. You can see a track record of the tenant’s payments, and be clear if the the tenancy is running smoothly.
Many of our investor properties come with Guaranteed Rent, giving novice landlords even more peace of mind.
If you are new to property through pension reforms, then the Government website – Pension Wise – is now live, giving advice on how to spend your pension pot.
For more helpful landlord insights, check out the Landlord Advice section of our blog.
Northwood is a leading supplier of Guaranteed Rent across the UK, giving landlords complete peace of mind that their rent will be paid each and every month.
Find us on Twitter @northwoodUK or visit our YouTube Channel.