New BTL landlord seeks advicee

[nfp40uk]

Hi

I am about to purchase a two bed house and let it out as an investment for my kids. Will keep if for 10-20 years so not out for a fast buck!!

I have done my homework on the areas to buy, am ok with the financial side of things and am keen to proceed.

I just wonder if anyone has any rock solid advice on this whole business of buy-to-let? whoever trivial...

manky thanks

Nick

[P.Pilcher]

If you study this board, and if you are doing your homework corrctly you should read it all, then you may well gain the impression that all tenants are out to "do" their landlords. In many instances the law and the judges that enforce it appear to be on the tenants side! That's as maybe, but the important thing to remember is that the majority of tenants out there are decent law abiding citizens who will respect your property, pay their rent on time, give you the appropriate notice when they want to leave and leave your property in a state in which it is ready for a new tenant.

It is imperative therefore to be extremely careful to select a good tenant, not take the first one that comes along and once selected, treat them as you would wish to be treated if you were a tenant yourself.

As an inexperienced landlord, it is well worth getting a suitable agency to do the selection for you and use what you read here to make sure you select a good agency. As an experienced landlord, I still use an agency to find my tenants. Last time one of my properties became available, I received two direct enquiries from potential tenants who had learned of the impending availability of the property. I though better of trying to save myself my agent's substantial tenant finding fee and referred them to said agent who never heard from them - I wonder why? Suffice to say that the tenant eventually selected was certainly not one of those individuals and has now been with me with her family for six months and, so far, I have had no problems whatsoever.

P.P.