Despite an improvement in house prices over the past year, it is still hard for most to get a mortgage on the property they desire.
This means that many potential house buyers continue to rent, which is great news for the landlords out there — the buy-to-let sector is feeling confident about itself again!
With that in mind, the Guardian has recently ran an article on what it takes to stay at the top in the buy-to-let game — Fergus Wilson, who’s been a landlord for over two decades gives his best advice.
One piece of advice is to try and avoid large families. Fergus implies that more children, means more mess — whilst this is not a problem in itself, when tenants are unwilling to put money towards damage caused by their children it could cause problems.
High rise flats should be avoided — particularly in the north. According to Fergus, these properties will be hard to sell for many years to come.
One more piece of advice: never take tenants with the same surname as you — name mix ups aren’t uncommon and thanks to modern bureaucracy can take a long time to correct!
If you’re looking for landlords insurance, the Quotiva Network can make finding buy-to-let cover easy — just one form for multiple quotes.
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