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James Gibbs and Paul Gillespie explain more...
At Gibbs Gillespie we understand that a rental property is a significant asset and that as a landlord your principal objective is to maximise the return on your investment, both in terms of rental income and capital appreciation.
Whether you are a business or private investor, buying to let is a growth industry and long term is a great investment. Our people on the ground know and understand the sales and letting business inside out so we can give you all the advice you need to make informed decisions plus access to thousands of prospective tenants.
For nearly 20 years Gibbs Gillespie have been helping property investors minimize their risks and maximize their returns by providing a stress free yet bespoke approach to property investment. Our proven track record comes from a thorough understanding of the residential property market, extensive contacts within the industry, the utmost discretion and a determination to remain one step ahead.
Our aim is to establish a close partnership with all our investor clients - after all, you are likely to be with us for years and years.
To make a success of your investment, here is our list of tips for a successful investment into buy-to-let:
• Review your finances
Buy-to-Let mortgages typically require a larger deposit, so this will limit how much you can spend. We recommend The Mortgage & Insurance Bureau who can find you the right ‘buy-to-let’ mortgage for you on an impartial, no cost, no obligation basis. Call their experienced and friendly team now on 0800 1444 744.
• Consider the amount of effort you can put in
The more time and effort you put into your investment the better return you will get. However, be honest, will you really have time to renovate a wreck if you buy one?
• Take the time to make the right choices
What can you afford? Do you want to live close to your property? Which letting agent will find you the best tenant at the best rental?
• Define your ideal tenant
Look at the type of tenants available and compile a list of features your property needs to have to attract these sorts of tenants along with which letting agent has the right customer base to deliver.
• Peace of mind
Ensure your chosen Letting Agent is a member of recognised professional bodies such as ARLA (Association of Residential Letting Agents) and NALS (National Approved Letting Scheme).
• Review all sources of potential properties
Work with estate agents who specialise in the buy-to-let market.
• Choose the right agent
Look for an agent with High Street prominence. They’ll attract more tenants, minimise empty periods and will ensure the best yield.
• Visit as many properties as possible
The perfect property is hard to find. Experienced landlords can visit up to 25 properties before finding the right one.
• Keep it under one roof
Finding a property to buy through the same agency as you’ll appoint to manage your buy-to-let, it brings innumerable advantages.
• Don’t do the deal unless the figures work
Before you commit to purchase a property make sure that you will be able to get sufficient rental income.
These ten tips should help you make your investment venture into buy-to-let more successful. Gibbs Gillespie have enormous experience in the rental market being arguably the largest letting agent in the region.
We provide a free 24 page Landlords’ Guide. It provides a wealth of advice and useful information from taking the first steps to appraising rental values through to the essential questions and answers on taxation. For your free copy contact any Gibbs Gillespie Lettings branch from the list below:
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