Buy To Let

Whether you are buying or selling property, either as part of an investment portfolio or as a second home, we will help you every step of the way.  Working with our Residential Property Team and Financial Services Team, we can offer advice on all aspects of your investment.We have four top tips that any investor should consider before a purchase.

1.  The Right Property

If the property is already tenanted, you need to ensure that you know what type of tenancy the occupier holds.  Most will be the fairly standard Assured Shorthold Tenancy if the annual rent is below £100,000.  Advice should be sought on any other type of tenancy as you could have difficulty in recovering possession or getting the tenant to pay market rent.

2. The Right Surveyor

As with any property purchase, get a surveyor in before you commit and ensure that they are aware that it is a buy to let purchase.  Invest in your own surveyor as you may not be protected as well as you thought if you rely on your lender’s surveyor report.

3.  The Right Condition

Most, but not all, of the landlord’s repairing obligations are governed by the terms of the tenancy.  Other terms may be implied to ensure that the premises are kept in a tenantable condition.

It is no excuse that the tenant will not provide access to allow you to carry out the landlord’s annual gas safety checks and complete any necessary maintenance and repairs.  An application to the court may be necessary.

4. The Right Deposit

Any deposit paid by the tenant must be protected using one of the authorised tenancy deposit schemes.  If it is not, the landlord could be ordered by a court to pay the tenant a sum equal to three times the amount of the deposit.

For more information please click the right hand links, email us at conveyancingquote@warnergoodman.co.uk or phone us at one of our offices:

Fareham: 01329 222097

Portsmouth: 02392 776549

Southampton: 02380 717439

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