Are you ready to add a buy-to-let property to your portfolio? An investment which can reap huge rewards for landlords, our dedicated team is ready and raring to advise and support you through your investment.
A venture which offers many exciting opportunities but also several challenges, as a new buy-to-let landlord there are plenty of things to consider before making your final decision.
If you’re still reading, it’s very likely that you are highly invested in becoming a buy-to-let landlord, but before doing so, you need to decide what type of return you are looking for.
As you may already know, there are two key income opportunities associated with buy-to-lets.
First up is rental income and the rental yield that you will make. If you take the average property price for a terraced house in Preston for example, of £134,521 and put together with the median rent for Preston of £763pcm, your rental yield will be 6%.
With the average rental yield for the UK currently standing at 3-4%, the return you will make in Preston and its surrounding areas is very appealing.
If instant income isn’t what you are looking for and instead you are invested in securing long-term gains for the future and for your retirement, then it is important to take a closer look at the capital appreciation of the property you are interested in purchasing.
In brief, capital appreciation is the amount your property will increase or decrease in value over time, something which is heavily dependent on the location of your property. Preston is becoming a significant area in the North West for investment including the infrastructure, jobs and transport links. What can only be a positive for buy-to-let investment, if long term capital returns are at the forefront of your mind, as opposed to good monthly income, the opportunities here in the local area are exciting, and a chat with our team is a must.
Although the source of income from your buy-to-let will be a major factor in your decision, there are many other things to consider when investing in a buy-to-let, from location and local amenities, to number of bedrooms and energy efficiency ratings.
All factors which will impact on the profitability of your investment.
Another major element that is specific to Preston and the local area is the high number of students looking to rent property in the area. The University of Central Lancashire is home to more than 38,000 students and staff, many of whom look to reside in the city. Want to know where students are looking to rent in the local area? Speak to our team today!
When you have discussed all the factors with our team and made your decision on where to invest in your buy-to-let property, the next steps are to manage that property and the challenges that come with that including increased regulation.
Here at Guildhall Sales & Lettings, our local, independent and friendly lettings team, led by Head of Residential Lettings, Lauren King, is on hand to support you with a great range of landlord packages, catering for all needs and helping you to ensure every box is ticked.
From the more basic tenant introduction service and the premium rent collection scheme, to our more substantial Elite Fully Managed Letting Service, we have an option for every landlord in the industry.
So whether you’re already a buy-to-let landlord or are seriously considering it, head to our website and learn more about how our ultimate landlord packages can help you: https://guildhalllettings.co.uk/landlords/, and then give us a call on 01772 76 99 99 to discuss your needs.
Already purchased your buy-to-let property and want to know what rental income you can achieve? Get a free instant online valuation today: https://valuation.guildhalllettings.co.uk/home/4131
GUILDHALL SALES & LETTINGS OFFER A NUMBER OF LANDLORD PACKAGES
LAUREN KING IS HEAD OF RESIDENTIAL LETTINGS HERE AT GUILDHALL SALES & LETTINGS