Rich
25-08-2005, 05:10 PM
Hi all,
I have recently come into a bit of money, and I am seriously considering investing in one or two properties in order to let out to let out to students. As I am currently at university, and am renting a house, I know the market very well, and believe it to be quite profitable in this area. I also know from reading around the internet that renting to students can be a bit risky, what with the summer holidays, maybe not finding tenants for a whole year, or students leaving university, but I feel that the pro's outweigh these cons. Because I am currently living in the area, and would most likely end up renting to students from my university, I don't think i'll need a lettings manager, as I feel I could very easily find tenants. From looking through estate agents windows, I have found a great deal of properties that are not only in my price range, but I believe would also appeal to students a lot more than the vast majority of other houses available, and I believe that I would be able to keep the rent reasonable and still keep up the payments on a buy to let mortgage.
However, as I am new to the prospect of being a landlord, and I don't know anyone willing to talk to me about it that is a landlord I know extremely little about it! Are there any reliable books or web sites that I could read about letting to students, or buy to let mortgages where I could find more information? Also, what sort of taxes and other expenses would I be liable to pay as a landlord (I don't own any other properties)?
Thanks for reading this, sorry for going on a bit as well!
Rich
I have recently come into a bit of money, and I am seriously considering investing in one or two properties in order to let out to let out to students. As I am currently at university, and am renting a house, I know the market very well, and believe it to be quite profitable in this area. I also know from reading around the internet that renting to students can be a bit risky, what with the summer holidays, maybe not finding tenants for a whole year, or students leaving university, but I feel that the pro's outweigh these cons. Because I am currently living in the area, and would most likely end up renting to students from my university, I don't think i'll need a lettings manager, as I feel I could very easily find tenants. From looking through estate agents windows, I have found a great deal of properties that are not only in my price range, but I believe would also appeal to students a lot more than the vast majority of other houses available, and I believe that I would be able to keep the rent reasonable and still keep up the payments on a buy to let mortgage.
However, as I am new to the prospect of being a landlord, and I don't know anyone willing to talk to me about it that is a landlord I know extremely little about it! Are there any reliable books or web sites that I could read about letting to students, or buy to let mortgages where I could find more information? Also, what sort of taxes and other expenses would I be liable to pay as a landlord (I don't own any other properties)?
Thanks for reading this, sorry for going on a bit as well!
Rich