Ten tips for buy-to-let

6 Let your voice do the talking
Don’t just rely on your fingers plus computer websites. Ring around all the
local estate agents to find out what kind of properties are in demand and
from whom.

7 Consider a letting agent
Are you going to be on hand 24 hours a day to deal with tenants complaining
about malfunctioning boilers and leaking taps? Do you know about gas-safety
certificates, energy performance certificates and which fund to pay the
tenants’ deposit into? If not, you might want to employ a letting agent
(they will charge 10-12 per cent of the rent).

8 Find out about your tenants first
You want to see their recent bank statements and utility bills and get a
reference from their employer and previous landlord. For assistance, ring
the Landlord Action helpline (0800 856 7878).

9 Think about selling
If the bottom falls out of the rental market, or the nearby university stops
sending students, will you be able to sell your property? Not if you’ve
deliberately bought a cheap place in a rundown area.

10 Have a plan B
What if your tenant loses his job? You need to have the answers to this
question before you go down buy-to-let Boulevard.