Be a successful landlord in 2018

success

What do you need to do?

This will be our last newsletter for 2017, we’d like to take this opportunity to wish you and your family a fantastic Christmas and a great New Year.

It is certainly accepted that it is harder to be a successful landlord these days.

There are tighter constraints around getting a mortgage, so financing projects is even more difficult.  The government have put in place new taxation rules around section 24. This will have a massive impact on you and the way you invest in property.

If you are a higher rate tax payer you will pay more tax on your property, this of course means less profit in your pocket. Interest rates are also starting to creep up.  The good news is that more landlords are looking to sell, and this could be an opportunity for the savvy investor.

If you have specialist knowledge and are an educated investor you can make money in this market by adapting.   Less properties available for rent means – higher rents. This could be the investing opportunity of the next decade!

To be a successful landlord in 2018 there are some things that you will need to do:

  1. Make sure you understand the legalities of being a landlord – download our legal checklist for more information.
  1. Understand MEES and the EPC requirements
  2. Make sure you have a current CP12 for each property
  3. Do you have permission to let from your lender?
  4. Have you deposited your tenant’s money?
  5. Have you given the tenant the necessary documentation?
  1. Get advice on the changes to mortgage interest tax relief and how it might impact your portfolio and profit.
  1. Make sure you keep up the necessary maintenance on your properties
  1. Landlord borrowers should speak to their mortgage advisor to understand the new rules for borrowing.
  1. Look at reducing your Capital Gains Tax (CGT) liability. There are legitimate ways to do this – download our Buy to Let Tax Guide for more information.

We look forward to helping you build your property portfolio and keeping you up to date with the latest news in 2018. 

Finally, if you want to work with us on generating new business – have you thought how one of our ‘Expert’ opportunities or an enhanced Directory Listing could generate you more business?  Or want help letting via bespoke eshot to our captive audiences – Just get in touch.

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