It’s a New Year, so we’re offering a 20% discount* on Conveyancing fees with our award-winning sister company Emsleys Solicitors to help buyers and sellers save money on property transactions.
If you’re a seasoned landlord, you may be thinking of increasing your portfolio, or if you’re a new landlord, you may be considering making an investment in property. We’ve put together four points you may wish to consider before committing to buy a rental house:
- Location. Location, location, location is the mantra! COVID-19 has changed people’s perspectives on what they need from a home and tenants are no different. Outside space has become a highly desirable feature when searching for a property to rent. Equally, working from home has become the new norm and is likely to continue for the foreseeable future, so tenants may not necessarily need to live as close to their place of work as before. Rural locations and smaller towns or suburbs are becoming more desirable locations for rental properties.
- Health and safety. It is now mandatory to obtain an electrical safety certificate as well as a gas safety certificate. All properties should also have working smoke alarms. You should investigate each of these before making an offer for a property. Landlords must comply with numerous health and safety requirements, so we urge you to familiarise yourself with these prior to committing to a purchase.
- Energy Performance Certificate (EPC). If a property is rated below E, it can no longer be let out. Before choosing to buy a property below this rating, you may wish to check whether you qualify for the new Green Homes Grant announced by the Chancellor in summer 2020.
- Presentation. Your property is being interviewed and has limited time to make a good impression with tenants. Tenants look at photos and videos, so modern fittings, neutral décor, clean and bright rooms will make the property more attractive to potential renters. Outside, gardens should be well maintained and garages should be watertight. Your property has 10 seconds to make the right impression and a smart properties attract more applicants, giving you a wider choice of tenants.
If you’re looking to rent out a property, we recommend speaking to a local letting agent who can advise you on rental values and give insight into the potential audience your proposed property will attract. Please contact our Lettings team on 0113 264 2642 or firstname.lastname@example.org.