Steven Bond, managing director of residential lettings at Beresfords, shares his advice with those looking to buy to let
Buying to Let
I WISH I had been given a pound for every time someone has said to me, ‘If only I had bought more property years ago when I had the chance’. Well there is still time — one of our newest landlords has just purchased his first buy to let with us aged 90! Currently the returns offered from more mainstream types of investment, such as general savings accounts and fixed rate bonds, are negligible. Furthermore, some of the annuities currently being offered by pension providers upon retirement are at their lowest rates ever.
In comparison, property is a flexible asset in as much as it can be retained, rented out, sold or borrowed against. When rented out, a property can provide a regular source of monthly income and, for as long as it is owned, is likely to increase in value.
Often those considering this concept for the first time will delay either through fear of the unknown or a lack of time. However, Beresfords retain a dedicated team of buy to let specialists, whose sole function is to guide clients through the entire process. They help identify suitable properties, assist with funding where required, source and reference professional working tenants, move them in and then manage the entire tenancy from start to finish.
This means that our clients can focus their attentions on everyday life, which may include running a business or pursuing a demanding career, yet still take comfort in the fact that they have interests within the buy to let sector.