Buy to let is generally a long-term strategy. Although the value of the property may dip during periods when house prices fall, over time your property will appreciate. Your rental revenue should cover any costs and mortgage payments, as well as provide a regular income.
There are many things to consider when you buy to let. You may decide to go down the single let route where you rent to one tenant, or you may prefer a shared house option (HMO). There are pros and cons to each and these should be considered carefully before you decide on your strategy.
Another thing to consider is the type of tenant you want to attract; students, professionals, working families or tenants on housing benefits. If you want to attract a specific type of tenant, then you need to research the best areas for that demographic. Alternatively, if you have a property in mind already, then you should research the type of tenant you are likely to attract in that area.
If you are considering the buy to let route, then you need to be prepared for the requirements on you as a landlord and the costs involved.
We have built our own portfolio of buy to let property including both single lets and HMOs with a variety of tenants. Our specialism is taking properties that are a bit worse for wear and transforming them into beautiful homes.
Investing in, and managing, buy to let property takes time, money and knowledge. As your partner, we can assist with all three areas. Every partnership is unique and our partnership with you will depend on what each party is investing. We can structure the project through a joint venture agreement or set up a limited company, depending which is the more appropriate solution.
Regardless of how the project is structured, the important things are mutual trust and clarity surrounding property ownership, profit split and investment security from the outset.
We are flexible in who we work with if the project is right and the relationship is comfortable for both parties. We are happy to speak to anyone interested in investing in a buy to let property, but we are particularly interested in hearing from you if:
If you are considering a buy to let investment in Leeds, then we’d love to speak to you. Once we understand your situation, we’ll talk you through the most appropriate options going forward. Our focus is on building long-term partnerships that are profitable for all involved. Contact us today to arrange a face-to-face chat and find out more about partnering with us.