raeburn christie clark&wallace solicitors & estate agents

Buy to Let

You may wish to buy a property as an investment opportunity and in time build up a property portfolio.  Here is a brief guide to some of the things you should consider:-

Type of Property

You need to consider who will be leasing your property ie. Students, Professionals, Families ….   This, in turn, will determine the type of property you buy  and the considerations you need to make when looking at potential purchases.

Area

You should research each area you are considering to determine what amenities are available.  For instance, if you intend to lease to Students you would want to purchase property in a University area with good facilities within a reasonable distance.  For families you would need to consider local schools, transport links, shopping and entertainment.

Condition of the Property

You should give due consideration to any remedial works that the property may require before rental.  If these works are extensive this could limit the amount you are able to borrow from any lender.

Rental Income

It is recommended that you consult our Leasing Department who will be happy to give advice on how much rental you can expect to receive on a property.

Responsibilities of a Landlord

Once you register as a Landlord you assume certain responsibilities.  This includes providing your Tenant with adequate and habitable accommodation, taking all reasonable health and safety measures and respecting your Tenant’s right to privacy. You may be required to apply for an HMO Licence when renting to Students or Professionals which then determines the requirements your property must meet to allow the Licence to be issued/approved.   If you are not aware of these responsibilities and fail to comply then you could face legal action.  Our Leasing department are well versed in this process including all the legal responsibilities associated with leasing and can guide you through each step.

For further details on any aspect of leasing a property please contact our Leasing Department.

Useful Links

Leasing

HMO Licensing Registration

HMRC Non-Resident Landlord Regulations

Private Rented Housing Panel

 

Your main contacts

Bill Barclay

Partner

01224 564636

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Anne Boyd

Partner

01224 332400

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Jamie Nixon

Partner

01358 726344

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Naomi Mearns

Partner

01569 762947

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Pamela Bursill

Partner

01330 822931

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Jane Merson

Solicitor

01467 629300

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Bill Barclay

Partner

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