Buying a property to let is not the same as buying your own home. Mortgage lenders often want to know that a professional letting agent has been advising on the selection of properties suitable for letting.
Lets Rent Property in Kettering is an experienced agent. We know the local market, which properties are in demand and we are familiar with local amenities. We understand the standard of decoration, furnishing, fixtures and fittings required. We are careful to select well-covenanted tenants who are more likely to pay their rent on time and leave the property on time and in a proper state.
Knowing that the management of any inherent risk is in the hands of a professional agent enhances the credit worthiness of Buy-Let propositions put to mortgage lenders.
Insurance cover is now available for rental protection, in the event of a defaulting tenant, and for legal expenses in addition to the normal building and contents insurance.
Lets Rent Property will help you understand the costs you should consider including:
(The tenant is responsible for such items as utility accounts, Council Tax and TV licence fee etc).
Deductions against tax on rents received may be claimed for the costs of maintenance, such as insurance, cleaning, gardening, agent's commission and other reasonable management expenses (but not improvements).
The initial cost of furniture fittings and fixtures is not allowable, but the actual cost of subsequent replacement may be claimed; or, alternatively, a wear and tear allowance of 10% of the rents received may be deductible.