Our Property team are here to help you. If you’re thinking of buying a house to let, contact us on 01624 665522 for expert property advice.
What Does Buy To Let Mean?
When people buy to let, they’re purchasing property with the intention of renting it out to tenants. It can be a fun, exciting experience, but also comes with a host of potentially stressful moments.
Reasons Why People Buy To Let
- Offers a stable source of income
- Provides opportunities to invest money
- Ready-made retirement income
Personal Property vs. Commercial Property
The key difference between deciding to buy a property to live in and buying a property to let is that you need to think commercially. With a buy to let property, you’re not buying it to move in yourself, and because of this it’s crucial to consider how the investment can benefit you financially.
Other Considerations Include:
- How will you personally fund buying the property and any renovation costs?
- Do you have the time to be a landlord and the organisation skills to manage payment transactions, property maintenance and more?
- Will you need support from advisers?
- If you’ve found a property and are considering purchasing it, will the rent you aim to charge cover outgoing expenses?
Considering the bigger picture before you buy a property is extremely important. If you have any uncertainties at all, it’s advisable to seek legal advice and get accurate information from a professional. Our Property team can provide support throughout this experience, whatever stage your decision-making is at.
How Can Quinn Legal Help?
On the Island, Quinn Legal’s Property team are highly respected and known for their commercial awareness of the property market.
We’ve worked with clients who have all kinds of reasons for buying to let. Whatever your purpose for the investment is, we can offer assistance in property acquisition, tenancy agreements, disputes, taxation and more.
- Give you insight into the property market and local property issues
- Assist you in looking for a property that meets your criteria and is suitable for the type of tenant you hope to attract
- Advise on the entire financial side of managing a property and running the rental business
- Provide understanding on landlord responsibilities
- Draft agreements and rental contracts, as well as legally advise you about potential situations that could arise (e.g. disputes)
Get In Touch Today
Alternatively, you can fill out our handy online enquiry form and one of our team will be in touch within 24 hours.