Peter Oliver Homes in Uckfield report that they have been delighted with their fast progression over the last year, which has subsequently led to 3 more people in their team.
According to Right Move – the UKs number one for property sales and rent – Peter Olivers’ sales figures far outweigh their local (Uckfield) competitors. The team believe their friendly, personal approach is a part of their winning formula.
Properties purchased on a buy-to-let basis are increasingly popular, with figures showing an upturn on 2017, despite a 3% tax duty on buy-to-let.
Owen – one of the Directors of Peter Oliver Homes – said that most people enquiring about buy-to-let, know what they are looking for in a potential purchase. Advice is after all, readily available from letting Agents such as Duke Letting in Uckfield.
Owen also said that enquiries are coming from older people, who have an inheritance to invest’. A somewhat less attractive option is a savings account, which typically only offer an interest rate of around 1% or even less. Other enquiries are from companies wanting to increase their property portfolio, with a view to a long-term investment.
If purchasing a buy-to-let property, the potential rental income could provide a welcome boost and far outweigh a long-term savings option.
7 tips for buy-to-let:
- Look for a 2-3 bed property in an area where schools and amenities are close by. In Uckfield, Manor Park is the most popular area, with properties often being let within days of going on the market, according to Duke Letting.
- Spend as much as you can afford with a property. Generally, the larger the property, the better its spec, and the better its location, the higher the potential rental income.
- If you purchase a property that needs work, get it done before you do viewings for potential tenants, otherwise it could put them off.
- Bear in mind that you, the owner, are responsible for all service and council tax for the property, until a new tenancy starts.
- Make sure that you get the property gas and electricity checked, complete with a certificate.
- Once the property is purchased and all upgrades done, make sure it is clean throughout. If you decide to let it through a letting agent, they will advise what you should do next.
- You may decide you want to let and manage the property yourself, however it is wise to enquire with a local letting agent as it may take a weight off your mind to have the experts look after it instead, after all, there are many potential pitfalls of being a private landlord.
If you would like to enquire about buying a selling a property visit Peter Oliver Homes.
Article written by Sue Edwards of SJE Marketing. If you would like an article here, or you would like to be a guest blogger please contact me.