The Advantages of letting property

Landlord Advice - Guiding you through the letting process

Step 1 - The Advantages of Letting Property

Lady looking at model houses

This guide has been designed to explain the key facts you need to know about becoming a landlord. By the end, you should have a good understanding of what's involved. However, your local Rightmove member letting agent will be able to answer any additional questions you may have.

Successful buying-to-let is dependent on:

  • Buying the right kind of property in the right location that appeals to a large range of tenants
  • Good tenants who will pay the rent and look after the property
  • Your ability to manage the tenancy properly
  • Compliancy with the rules and regulations on letting property
  • Not getting emotionally attached to your property. It's generally a long term investment and a mistake to treat it as your own home.

The UK has a housing crisis - a growing population and a lack of available properties has pushed up house prices beyond what people can afford in many areas.

This has meant some people have no option but to rent instead - it's usually cheaper and for those that want to eventually buy; it allows them to save for a deposit.

Why buy-to-let is growing

At the same time, lifestyles have become more flexible. Today people move between work and study frequently.

For these people being a tenant offers more flexibility than buying a house.

In 1988, the tenancy laws were changed to allow landlords to get their property back simply by giving sufficient notice to the tenant. In 1996, special 'buy-to-let mortgages' for landlords became available, making it much easier for people to borrow money to buy property to let.

All this is good news for landlords….

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