By Tony Booth
This highly-praised e-book offers the reader with every little thing that should be identified approximately purchasing, getting ready and letting an appropriate funding estate. briefly this publication is a complete, yet transparent and concise consultant for the world-be, go-it-alone landlord who needs to prevent supplier charges via developing and coping with his personal tenancy.
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Extra info for The Buy to Let Manual: How to Invest for Profit in Residential Property and Manage the Letting Yourself
Sample text
Size. Be as precise as possible. Use a ruler or tape measure. 6. Shape. Is it square, oval, spherical, box, etc? 7. Labels. This is to remind you to check the existence of a compliance label on furnishings requiring one (see Chapter 3). Make a note identifying the location of any fixed labels, for example ‘under seat cushion’. 8. Condition. Look for cracks, stains, blemishes, marks, scratches, scuffs, erosion, fading or wearing. Carefully detail the degree and location of any damage. Decide whether the item is in good (as new), fair or poor condition.
Uk A wise landlord will employ a qualified electrician for an initial and further periodic inspections, producing a test report which can later be attached to the inventory. Ideally, the inspection should be carried out prior to each tenancy commencing, or at least annually. To become compliant, the following are recommended: X X X X X X X X Check that all appliance manuals, instructions, safety notices and labels are available so that copies can be issued to tenants. Have a qualified electrician check that all appliances are safely wired and operate properly.
Alongside useful money-saving information, it offers the reader realistic, sound advice on how to obtain the lowest mortgage and arrange finances so you get the best deal. Before accepting a mortgage, obtain written confirmation from the lender that letting is permitted. Some completely prohibit renting. Others may have strict rules about the category of tenant, the type of tenancy agreement and the method of management. There are also often mandatory fees payable to mortgage companies for granting a tenancy and these are best identified in advance so you can include them in any profit forecast.