Buy-To-Let FAQ

We have compiled a list of Frequently Asked Questions for Buy-to-Let landlords. If you cant find an answer to your question please contact us.

Do I need to use a Letting Agent?
We would say yes as there is nothing better than local knowledge and expertise when choosing or letting a Buy to Let property. 5 Towns have been in the business long enough to have let nearly all types of property in almost all streets within our market. We give honest advice based on years in the business and it can often be a false economy to not use an agent, as long as they are a good one! We are very careful to recommend the right tenants for your property and help you avoid potentially nightmare tenants.

Why choose 5 Towns?
We have a fantastic reputation with landlords and investors who appreciate our personal approach. We have built our business on countless recommendations and make an effort to get to know our landlords and the way in which they like to work. We have a dedicated property manager dealing with all aspects of your property through the letting process and a dedicated property manager dealing with the management of the property who will aim to work to your preferences.

We are not just interested in gaining your instructions to let your property with false promises. Our overriding aim is to do the job right and to gain your further recommendations from the service you have experienced. We wont over estimate the value of your house just to get your instruction because we value our reputation, we’re in business for the long term and mainly because we want to be able to let your property.

What areas to buy in?
There is no definitive answer to this, it depends on your aim when entering the market. If your aim is solely financial you must widen your search area and carefully research all relevant areas. If looking further a field this should be balance with how the property will be managed and let given the distance. Remember not all agents are reputable. We will gladly share our knowledge and experience on where to buy.

Do you offer Buy to Let mortgages?
We have links with reputable companies who can help with your mortgage queries. Just ask us for details.

Can you guarantee my rent?
We can offer insurance against your tenant defaulting during the tenancy. If the letting process is done correctly you will have fewer problems with tenants but there are always risks associated with any form of property investment. The rent guarantee product is there to provide you with additional peace of mind should you require it.

Will I pay tax on the rental income?
You must declare any income from your property but you can normally offset most of your expenses against it. Tax liability is not usually a deciding factor in Buying to Let, however, if you wish we can recommend a local accountant to you. If you are an overseas landlord you will need to advise your agent as they may be required to deduct tax directly from your rental income.

What is my first step?
Call 5 Towns Lettings & Sales and we will give you our advice from choosing the right property to buy, through to completing the letting. Nothing is too much trouble!

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