Blog
Let To Rent
Thursday, July 14, 2016
Let-to-rent isn't a new idea, but it’s one that is becoming more commonplace as a way of life. Massive and increasing costs to move, and problems replacing existing mortgages are often cited as a reason for not selling a property but letting it and renting another property to live in. Schooling often prompts a decision to let-to-rent if a family wants to live in a specific catchment area for a limited period and it’s also a great way to try living in a new area whilst keeping your options open. It may be the ideal option to facilitate a short term work contract, or just a way of keeping a home that you can’t bear to sell.
Whatever the reasons, there are massive potential benefits but also issues to consider before you take the plunge. Talk to The Frost Partnership and we can guide you through the pros and cons, give you an idea of the value of your property and what you’ll be able to rent for yourself. As part of a 15 office linked network spanning Middlesex, Berkshire and Buckinghamshire we may be able to help you find your next home in an area you hadn’t previously considered, as well as reaching thousands of potential tenants for your property.
Financially the big disadvantage is that rental income will be taxable. With good advice you can offset some of the costs relating to the property you're letting and depending on location and your rental requirements, the figures could work in your favour. You need to consider availability of rental properties in your chosen area and get 'consent to let' from your mortgage provider who may require you to change your mortgage to a buy to let arrangement. The Frost Partnership can advise you whether your property is ready to let taking into consideration all safety regulations and legal guidelines.
As a licensed ARLA agent, Frosts can help with all the stressful aspects of letting a property including finding quality tenants, conducting “Right to Rent” checks and health and safety compliance. You can relax whilst we handle contracts, utilities, inventory, compliance with legislation and property maintenance from the handover of keys right through to the end of a tenancy. What’s more with our Tenancy Deposit Scheme and FREE 12 month rent guarantee cover you can be totally assured that your investment is in safe hands.
We are experiencing a huge demand for properties of all types across Buckinghamshire, Berkshire and Middlesex. If you are thinking of letting your property please call your local Frost office for a FREE valuation.
