SarahBeenySpringIssue2017 - 67
BUYING AND SELLING ▲
So, you want to
LANDLORDS IN THE KNOW SHARE THEIR KNOWLEDGE SO
YOU CAN MAKE THE MOST OF YOUR RENTAL PROPERTY
'RENT OUT PROPERTIES
CLOSE TO YOUR HOME'
Claudia James, 35, bought her ﬁrst buy-to-let
just three months ago - a one-bedroom ﬂat in
Surrey, close to her own home. She'd considered
buying abroad, but decided against it in the end.
'A buy-to-let in another town, or even overseas,
can be tempting, due to lower prices. But, unless
you have a reliable person to look after the property
for you, it could be stressful to maintain.
'Also, if tenants run off without paying the rent,
there may be little you can do, especially if you
invest overseas, because laws abroad don't always
protect homeowners. And if you need to tend to
an emergency, it could be expensive just to go and
see it. So I would recommend buying as close to
home as your budget will allow.'
'D O A N I N V E N T O R Y I N
CASE OF NEGLECT'
Andy Watson, 45, lives in Hayes, west London.
He has been letting properties across the UK for
six years. His most recent tenant was a family of
four in a three-bedroom semi-detached.
'Always get a proper detailed inventory at the
start of a tenancy. It's tempting, because of the
cost, to neglect this, but I think it's essential.
'I rented out a newly refurbished house to a
family, and two years on it was in a really terrible
state. If I hadn't done an inventory, I would have
had to repaint the whole house and replace all
the carpets myself. But the tenant ended up
doing the work for me, so it was worth it.' >
www.athomemagazine.co.uk MAY 2017 | 067