What to look for in a property when buying to let

Research your market

If you decide to do this yourself, you will need to collect information from local estate agents, newspapers, employers and so on, to find out about demand and supply for rental property in the area.

Location, location, location

Shops, transport, schools, parks and so on: will these are these the types of services draw tenants? If there is a school nearby, are you happy to rent your property to people with kids?

Size matters

A larger property may accommodate a family, while a smaller one will better suit a single person, a student or a couple. Who would you prefer to rent out to?

Hidden costs

Aside from the mortgage costs, there are other costs involved when buying to let, such as maintenance costs.  Landlords insurance should also be included in the budget, as this can save you plenty of money in the long run. Get a quote for landlords insurance online with Direct Line For Business today.

Check your tenants

Check out your tenants before they move in. A background check, references, a call to confirm their places of work, and maybe even a credit check, will give you peace of mind when the first tenants move in. Landlords insurance will also cover you if your tenants to accidentally damage or break something and you need cash quick to fix it up.

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