5 Reasons to Embrace Buy to Let in the Wake of Section 24!
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Well if there is one bit of good news that came out of this Covid-19 Pandemic it's the sheer amount of help displayed from the government to assist those in need. We all know by now the extent of the grants and breaks for most of those in the economy, now the housing market needs a push. Estate agents are rejoicing in easy sales now as with the axe of stamp duty up to £500,000 it certainly means a considerable cash discount on purchasing a (next) home. Imagine not having to fork out with the £15,000 required on a £500,000 purchase price certainly makes a considerable difference! And for investors? Sadly the 3% surcharge still remains... However there's still savings to be had of course, on £500,000 we are also saving that £15,000, so still less money to park in the "deal" upfront. This can only be a good thing. Forever? Well the key question is of course, how long will this last? At the moment details such as that remain unclear, so should we all rush to buy now? We
Exciting times As you'll know from previous posts property management is now at the forefront of my priorities. Long term lettings has always been on the radar, but this year Daniel and I have taken the plunge and started offering short-term letting services also. A great additional string to the proverbial bow. What have we done? We had taken on a few apartments in E14 (I know, it's not south of the river, but needs must) in order to test them on a short-letting basis. With us being outside of that locale it was key for us to partner up with a reliable person with ample experience to be on call for the day-to-day things: cleaning, check-ins, check-outs, ejecting party revellers and so forth. Thankfully our network is vast and we found the right person for the job! Once we secured the properties the keys were handed over, the properties prepped and listed on the sites ready for bookings. We have been running them for 6 months now and have had an average occupancy rat
So, you're letting your property? Now is the time. Take advantage of that summer market whilst you still can. What's that you say? Property available in November? Well get marketing. Now. Because whilst there are stragglers around from the busy summer period you will do very well, despite your property being available in what is usually a slow time of the year. How does that work? Simples... August is the busiest month in lettings. This has always been the case. After that there are some stragglers left over in September, snapping up anything that is left. Even properties with move dates far in advance are taken, simply because they can't rely on anything else coming on to the market. You know the student saying "if you leave it to late EVERYTHING will be gone." Not true of course, there will be plenty of greedy landlords with sky high prices, but nobody rents those. Well-priced, well-presented properties let. Beds in sheds do not. Regardless of