The Dos and Don'ts of Buy-to-Let

DO	Ask the advice of a local letting agent on local rental market demands.
DO	Consider a buy-to-let property as a medium to long term investment.
DO	Furnish and decorate to a high standard. Good quality bathrooms and kitchens will attract the best tenants and help minimise void (un-tenanted) periods.
DO	Make sure your sums add up. Ensure that the rent will cover mortgage payments and other costs associated with being a landlord (see the section titled 'additional costs to consider when letting property' for further information).

DON'T	Buy anything with intensive maintenance problems (for example, large gardens will add little to the rental value but will cost you a lot in time and money to maintain).
DON'T	Allow your own personal taste to influence your decisions. Ensure the property you choose matches the local market needs.
DON'T	Use off-the-shelf tenancy agreements and other legal paperwork. Ensure your paperwork suits your circumstances and always seek the advice of a professional.
DON'T	Forget to issue the right documents or carry out a proper inventory report before your tenant moves in.
DON'T	Use second hand furniture or old soft furnishings as these may not abide by the Furniture and Furnishing Regulations.

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alexander hall associates limited is authorised and regulated by the Financial Services Authority for pure protection, residential mortgages and general insurance business. We do not charge a fee for residential mortgage advice; however there is an administration fee for processing each of your standard residential mortgage contracts. The typical administration fee is £499. For impaired credit lending the typical fee is 1% of the mortgage loan. For Buy to Let and Commercial Mortgages a fee of 0.5% of the mortgage loan size applies of which £500 is payable on application with the balance payable on completion.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.