I am interested in buying a proprty to let in the Gravesend Kent area, or Swansea.
Are there any pitfalls I should be aware of.
2006-09-05 07:37:21 · 10 answers · asked by Anonymous in Business & Finance ➔ Investing
I rented out a house for three years,two different sets of tenants.
Had to paint the house from top to bottom when both sets moved out.
Make sure you rent it through an agent as they will chase up any problems
If you don't get emotionally attached to the house go for it as it can be a good investment if you get it at the right price.
2006-09-05 07:51:11 · answer #1 · answered by HOOPS 7 · 1⤊ 0⤋
Unfortunately it can be very difficult. Even if you get a tenant they may not be very nice! Mine trashed my house moved four people into a small 1 bed flat and stole other people in the building's mail and applied for credit cards etc. I did make a small amount of money (say £800 per year) but it wasn't worth it for me.
Good Luck!
2006-09-05 09:51:38 · answer #2 · answered by Anonymous · 0⤊ 0⤋
I'd stay away from the residential buy to let market, and look towards the commerical side. A nice well known company on a fully repairing and insuring lease in a good quality building and you really can not go wrong
2006-09-06 05:44:42 · answer #3 · answered by Gary H 2 · 0⤊ 0⤋
All the people I know in the letting business and I know quite few, are making money however with letting you can always get problem tenants and nobody can predict that for you
2006-09-05 07:41:23 · answer #4 · answered by Maid Angela 7 · 0⤊ 0⤋
there's lots to think about be for letting you are required to prove that the gas central heating is working and safe that the electrics are working and safe,your support to include insurance in case of fire, the tenants might not pay you then you''l have to take the tenants to court, it all take time I'd keep away if i was you
2006-09-05 07:59:43 · answer #5 · answered by angie n 4 · 0⤊ 0⤋
My bros in law bought a house to rent 9 months ago, he is still looking for tenants. He He
2006-09-05 07:43:37 · answer #6 · answered by Anonymous · 1⤊ 0⤋
yeah thats right buy a house to rent - push up the house prices so the local young cant afford to buy their own place - forcing them to rent at way over the odds - or even stack it to the rafters with immigrants screwing a fortune out of them
aaaaaargh
2006-09-05 07:48:13 · answer #7 · answered by olivier1uk 3 · 0⤊ 0⤋
Perhaps if you do it through an estate agent, they can see to all the paperwork for you,i.e sorting out references etc and any repairs or problem tenants for a small fee each month............
Good Luck.
2006-09-05 07:45:36 · answer #8 · answered by Happy. 3 · 0⤊ 0⤋
The experts have got there before you. You will be left with the problem tenants which they reject.
2006-09-05 07:44:01 · answer #9 · answered by Anonymous · 0⤊ 0⤋
Sounds good but make sure you can afford a few months with no tenants; ie. don't overstretch yourself financially.
2006-09-05 07:41:33 · answer #10 · answered by Si 1 · 1⤊ 0⤋