Twitter Facebook RSS FEEDS

Buy-to-let made easy by Frank Knight

Thursday, 20 December 2007 12:00 AM

Knight Frank is offering some hardnosed advice to those looking to rent property in 2008.

The property market may be experiencing a period of moderation, but the buy-to-let sector remains buoyant.

Indeed, rents are at their highest ever levels, according to the Royal Institution of Chartered Surveyors (Rics), with demand in the market strengthening.

And to help those moving into the market, Knight Frank has the following advice:

Landlords renting out their own homes

  • Try and view the property as a business opportunity. Do not be hurt or upset if a tenant does not like your wallpaper and asks you to neutralise.
  • Declutter. Make the property more like a show home rather than your own home.
  • Make sure your boiler and electrics are in good order with plenty of time, and ensure they are CORGI inspected.
  • Inform your lender in good time that you will be letting the property.
  • Ensure that any requests, with reference to lettings from the leaseholder/freeholder/managing agent are complied with in good time.

Tenants making an offer

  • Make sure all requests for changes to the property and required information is given to the agent at the time of the offer.
  • If you can stay for a year straight with no break clause, you are more likely to get the property.
  • Some Landlords may appreciate the rent being paid in large installments, six monthly or upfront. If you can do this it may put you in a strong negotiating position and you may be able to get the rent down.
  • Make sure your referees are briefed to send out references straight away. Lots of tenants are losing properties due to delay in references.
  • Get the tenancy agreement signed within three days. Do not waste time making lots of amendments. Remember that if you choose a good agent, then the tenancy agreement should be of good quality.

Related stories

Buy to let now accounts for 13 per cent of the total outstanding value of mortgages in the UK. Picture:Getty Images

Recovery continues in buy-to-let lending

Total of 1.4 million properties in UK now being bought with buy-to-let mortgages, reveals CML.

 Buy to let could be on the up

Investors eye more buy to let properties

Buy-to-let investment set for expansion on back of rising tenant demand and rents, says Assetz.
Buy-to-let lending is now at its highest level since the end of 2008

Buy to let continues to bounce back

Mortgage lending to buy-to-let landlords rises to highest level since end of 2008.

 High house prices in relation to earnings is fueling rental demand. Photo:Getty Images

Buy-to-let investors cash in on rental demand

Restricted mainstream mortgage market means healthy returns for landlords set to continue, says survey.
Landlord activity rises

Buy-to-let interest 'increasing'

Buy-to-let investment looks healthy for the long-term, an expert believes.

 Interest rates on buy to let mortgages have fallen in the last year

Buy to let mortgage rates fall

Landlords can get better deals than a year ago but rates still much higher than for ordinary borrowers.
Lender returns to market

Paragon returns to buy-to-let lending

Paragon's return to lending has been welcomed by a website for landlords.

 The number of buy-to-let lenders has increased from 56 to 63.

Buy-to-let mortgage deals double since 2008

Lending to landlords picks up with 104 per cent increase in last three years.

Block of flats in London

Ten social housing inspections made in 15 months

The Tenant Services Authority has not commissioned a property inspection in almost a year, an investigation has found.

 Investors buying-to-let are enjoying a good climate with average rents rising.

Buy-to-let boom covers cracks in mortgage market

Buy-to-let increase conceals difficulty in mortgage market say British Bankers' Association.

Search property

Headlines

Directory

Alaris

Alaris Logo
Alaris specialise in quality Bathrooms and Kitchens along with many other unique products for your home. The range of kitchens, kitchen worktops and bathrooms is extensive and the highest quality so you are sure to find what you want. New bathroom furniture, bathroom suites, taps, showers and cabinets are added regularly.

Bathrooms365

Bathrooms365 Logo
Bathroom365 supply all areas of your new bathroom - leading-edge designed bathroom suites, stylish bathroom taps and showers, all styles and forms of shower enclosures and a vast collection of bathroom furniture.

Beds Direct

Beds Direct Logo
Whether you've just moved into a property and need to furnish it or just fancy having something new to sleep on, Beds Direct offer you a wide array of beds to order online or via the telephone.

Fitmykitchen

Fitmykitchen Logo
Fitmykitchen are specialist suppliers of kitchen appliances, sink taps, waste bins and furniture. So whatever you want from kitchen sink taps to waste bins look no further than fitmykitchen, UK, the specialist suppliers of kitchen appliances, stainless steel sink taps, waste bins and kitchen furniture.

MyStampDuty

MyStampDuty Logo
We help people buying property all over the UK to minimise Stamp Duty Land Tax on residential and commercial property. If you are looking at purchasing a new home or business premises over £500,000, contact us today by completing the form on the right

Oak Furniture Land

Oak Furniture Land Logo
For hardwood furniture, including Solid Oak, Mango, Mahogany, Sheesham, Acacia, Ash and Birch, look no further than Oak Furniture Land.

Propertywide

Propertywide Logo
Propertywide.co.uk is Countrywide plc's dedicated property website. Created to provide online access to all our estate agency, lettings and property related services, Propertywide.co.uk has been designed with the consumer at heart.

The 21st Century Radiator Company

The 21st Century Radiator Company Logo
Welcome to 21st Century Radiator Company. We supply a stunning range of traditional reproduction high quality cast-iron radiators and cast-iron baths. All our cast-iron radiators and cast-iron baths are brand new, fully tested and guaranteed for ten years.

Rated People

Rated People Logo
Whatever type of home improvement or garden remodelling project you have, Rated People can help you to identify the right tradesmen for the job in a way that is quick, easy, convenient and, as it is based on real-life recommendations, trustworthy.

Residential Land

Residential Land Logo
If you are looking for short or long term rentals in Central London, Residential Land have a portfolio of over 1200 flats and houses in the best postcodes across the Capital.

Simply Bedrooms

Simply Bedrooms Logo
Simply Bedrooms, a part of Sleepwell Bedrooms Ltd, supplying quality beds, wardrobes, sliding door wardrobes and bedroom furniture at low prices and great service, London and Home Counties Specialists.

Door Handles UK

Door Handles UK Logo
Door Handles UK is the UK's largest online range of Door Handle accessories, Door Hinges, Locks and Latches and so much more and all at genuine internet prices. We have a wide range of Chrome, Brass and Glass Crystal Mortice door knobs in both traditional and contemporary designs, whatever your taste and budget you will find a design to suit.

Woodlands Furniture

Woodlands Furniture Logo
We are an established family business situated in rural Herefordshire specialising in beautiful handcrafted classic reproduction furniture. Our comprehensive ranges are readily available from stock.

Join our directory aboutproperty.co.uk

Twitter

Join the conversation at #aboutproperty

Directory articles

Why increasing amounts of people are opting for house shares

London is an expensive place to live, however, house shares offer you the opportunity to enjoy the hustle and bustle of the capital for a fraction of the price you would pay to live on your own, making them a cost-effective way forward.

Why sliding door wardrobes are the best choice for small spaces

When bedroom space is at a premium, you need to be creative with the furniture you invest in. In terms of the wardrobe, you may want to consider those with sliding doors, as they are the most practical in small bedrooms thanks to the doors.

The durability of mahogany furniture is ideal for the office

For office-based businesses it is vital to invest in high-quality furniture that is both practical and comfortable to use. While there are many products to choose from, the benefits on hand with items made from mahogany mean it is an option you should be certain to consider.