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The Castle

Buying Property to Let

 

A great idea is to "BUY" a 2nd Property to "LET" out to others, and one if done right, will make you potentially very rich. You need to first identify opportunities to buy Property in areas where you percieve that people will want to rent. Then you have to consider the financing ; you want to cover any Mortgage from the Rental Income; and take into account annual maintenancec and replacement cost for appliances. 

 

10 TIPS FOR LANDLORDS

 

FACILITIES


People are more likely to rent from you if there are really good facilities  available to them. You are likely to be in competition with other Landlords, who are also letting to people in the same area. You want your property to be at least as good if not better than the competition. You want renters to recommend you to their friends. 

BEDROOM

  • Queen Size Bed
  • Seating Area
  • Attached Bathroom
  • High-speed WiFi
  • Satellite TV

KITCHEN

  • Modern Kitchen
  • Mini Bar
  • Tea / Coffee Machine
  • Microwave
  • Full Size Dishwasher
  • Refrigerator

BATHROOM

  • Shower and Bathtub
  • Washing Machine
  • Hairdryer
  • Bathroom Storage
  • Bathroom Scale

AMENITIES


Potential renters are more likely to want to rent in an area which offers them scope to live cheaply, and comfortably. Many renters will have family living with them . They may also work in the general area.

  • Friendly Place
  • TV Room
  • GP Surgery / Dentist
  • Swimming
  • Public transport links
  • Sporting facilities
  • Close to Work
  • Restaurants
  • Grocery stores
  • Schools 

OWNER RUN OR MANAGED


Once you actually own a Property to "let out" to your  Tenant, then you need to consider whether you can manage the Rental yourself; or whether you should really hire a professional Letting Agency to do the renting for you. If you have several properties then it may be better to use an Agency. 

       You need to consider what the rent will be.. Many Councils have a "fair rent" scheme in place and the rent may be "capped". You need to evaluate whether your tenant can easily afford to pay the monthly rent, as you dont want arrears due to non payment. If this happens then you will need to legally "evict" the tenant. Your tenant can legally withold rent if there are repairs to be carried out, You should always ask for a deposit to cover damage, get appropriate "Landlord" Insurance; and you may need to obtain a Multiple Occupancy Licence from the local Council if there are more than 2 unrelated people renting your Property. Your tenant should not be legally able to "sub-let" your Property to someone else. You should also have a robust contract in place with tenants.


Selling Property

Once you have several "notes of interest", you set a "Closing Date for Offers". This means that potential Buyers are told of this, so that they can present their Offer formally to your nominated Solicitor. Your Solicitor will then do the conveyancing on your Acceptance of any suitable Offer. You can sell your Property to anyone you choose, and not necessarily to the highest Offer. Title deed transfer takes place.

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Some Property Pictures

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MIDAS

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Our Mission is to sell your Home as quickly as possible, and get you the best Price, at the lowest cost; with a professional service Please come back, and recommend us to all your friends!

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You can upload your Photos of your Property above using the Upload File from Device

CONTACT US

Glasgow, Scotland.  G61

[+44] (0)844 330 1579

Portal Advertising eg Zoopla:

We only charge £120 GBP for our Service which includes Advertising your Property, using the details you provide us. This is all we charge until your Home is sold (6 months)

[Adverts placed on our own Site are "FREE"]

Why Should You Advertise with Us?

To "maximize" your return on investment ie get as much as possible for your Property - you need to Advertise it to as many interested people as possible as quickly as possible, and with several "notes of interest"; you can then set a Closing Date for Offers. After this date has elapsed, anyone wanting to buy your Property will make you a formal unconditional Offer which is binding to your nominated Solicitor; who would then do the conveyancing ie Title Deed Transfer. In order to achieve this the best way to go forward is to :-

  1. Advertise on one or more of the Main UK Real Estate Portals which at the moment are:- RightMove, Zoopla, Prime Location, On the Market, Net House Prices and more.
  2. We can advertise on one or more of the Portals for you for £120 for 6 months which is much cheaper and also quicker than your typical "Brick-and-Mortar" Estate Agent in the High Street. They all tend to charge £100's of Pounds to market your Property in the first instance, dont guarantee they will even take it on; and also up to 1% of the Sold Price. This would amount to £1000 GBP on a Property worth £100,000 which is a "lot" to lose!
  3. All the major Property Portals online eg RightMove are definitely NOT Free to Advertise on and in fact you can only advertise your Property on them through an Estate Agent.
  4. Please do Advertise with us here today. We aim to save you some Money and try to Sell your  Property as quickly and effectively as possible. Try us out now folks!


Classified Advertising with Us on this Site

  1. If you want to place a Classified Advert on our Site, then please go ahead. It is FREE!
  2. It is really EASY to do, just fill in our Form by pressing the button on the Left.
  3. Send us the details and also try to upload some Photos of the item for Sale if possible.
  4. Your Classified Advert should be up on our Site pretty quickly.
  5. Businesses catering for House owners can also advertise their Services here for FREE. Your potential Customers will then be able to contact you directly via phone / email. 
  6. WHY NOT TRY US OUT NOW - IT IS REALLY EASY TO DO AND FUN TOO!

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