Landlords need to make considerations before investing
Landlords looking to purchase properties for the purpose of
buy to let need to make sure that they are aware of all the
issues which could affect them so that they can offer their tenant
the best service available.
"You have got to make sure that you do things the right way around.
Otherwise, you could make mistakes and have an unhappy tenant,
which can lead to all kinds of problems," said Malcolm Harrison,
spokesman for the Tenancy Deposit Scheme.
Investing in property to rent out to others is big business at the
moment thanks to the fact that the price of monthly rental costs,
according to LSL Property Services is at record highs.
Mr Harrison said that some of the most common mistakes people make
can include not taking the time to draw up a proper tenancy
agreement, as well as not making an inventory.
These can both protect each party in case of problems.