Letting a Property – The Benefits

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While there are some renters who view letting a property as a failure, there are others who see the benefits that are to be gained from renting a house or apartment as opposed to purchasing one.

Some of the benefits of renting include the ability to save money while renting for the purpose of purchasing a home, few maintenance requirements and the inclusion of amenities which the renter would not likely be able to afford if they were to purchase a home instead of renting. Although there are some negative aspects to renting an apartment, this article will focus exclusively on the benefits of renting a property.

The Ability to Save Money

Being able to save up a great deal of money for the purpose of making a down payment on a dream home is just one of the many great advantages to letting a property. Many existing homeowners were only able to achieve homeownership by adopting this same principle.

Although renting is often perceived as throwing good money away because it does not result in equity, the ability to save money while renting is unrivalled, especially in tougher economic times where prices are arguably still over inflated. Renting a flat/apartment is usually cheaper than the monthly mortgage on a home.

A first home is one that you would want to put your own stamp on. For this reason having the ability to save money to facilitate a deposit plus renovation/decoration works upon purchase is very useful. Therefore the value of letting a property cannot be denied. Depending on how long the renter stays in rented property, they may save hundreds or even thousands of pounds during the course of the rental agreement.

No Maintenance Properties

Another advantage to letting a property is there is typically little or no maintenance required by the tenant. This is especially true in an flat/apartment situation. The renter may be responsible for small items such as changing light bulbs but more extensive repairs such as leaks in plumbing or clogs in drains are typically handled by the maintenance staff of the rental property.

Communal areas such as gardens and coridoors are covered by a maintenance charge usually payable by the owner of the property. The exception is usually when a tenant rents a house as opposed to an apartment. In these cases the tenant may still not be responsible for small repairs but might be required to maintain external areas such as gardens etc.

Additional Amenities

Another advantage to apartment living is often the amenities offered to residents. Such amenities might include usage of the pool, an exercise room, meeting spaces, launderettes etc. In most cases these amenities are offered free of charge to residents and their guests. Many people looking to purchase a home would not likely be able to acquire one with amenities such as these.

These items are often considered luxurious and are not available in the majority of homes which are on the market at any particular time. In fact searching for homes which specifically have these features may severely limit the number of search results and may result in no search results at all when these features are searched in conjunction with a typical price range. However, those who rent can enjoy access to these amenities. They may pay more in rent than those in a comparable apartment complex without these amenities but they are also still likely saving a considerable amount of money each month as long as they are budgeting wisely and have chosen a rental property within their price range.

Lettinglinks.com is a social networking site that connects landlords with tenants. If you are interested in letting a property then visit the main site and create your account in seconds. The site is 100% FREE to use. Gain access to thousands of UK registered landlords and their properties NOW!

Rental Properties For Investment Purposes

admin    Landlords, Real Estate, Rental Property Investment     Buying Rental Properties, Rental Properties, Rental Properties For Investment Purposes

There are lots of different ways that you can make money without having to put hours and hours into something every day. That doesn’t necessarily mean you don’t have to work on your project, but there are some that can be done up and then left to run on their own, at least for a little while. One way to do this is to invest in rental properties and become a landlord, though things do seem to pop up all of the time.

If you decide to commit to buying rental properties that you can overhaul and let out, you can realise a regular flow of rental income each month with little hassle after your initial period of renovation works.

Buying rental properties can be tricky, but you can usually find the right thing if you look around. Initially it is a good idea to just buy one if this is your first time. However, if you are confident in your buying strategy and can handle the works, then aside from finance, there isn’t a limit on how many you purchase at once. For the best investment, you want to find something in a decent neighbourhood that might need some work. You will get a ‘market happy’ price by adopting these strategies when buying rental properties, but you can put a little work and money into it and turn it into a perfect investment.

That means you can command a higher rent and get a return on your investment.

When buying good rental properties initial research is essential. Think of it as your road map to success – without it you will be literally ‘driving blind’. You can’t always tell what a neighbourhood is like just by driving through during the day. To make the best decisions about an area, try visiting at different times of the day. How do these times affect your property directly? Does the feel to the area change at night? Issues may arise that you hadn’t considered that could be detrimental to the rentability of your potential investment.

If you are looking into buying rental properties, and you notice a great house at a very low price, you have to wonder why that is. There could be a high crime rate in the area of interest, even though the look and feel of it would suggest otherwise, or even a very troublesome neighbour that has left the house unsold.

If you are new to buying rental properties, you should also know that you should always have someone look over the house for you no matter what you think of it. There could be problems with the foundation or other key areas that mean the house will be more of an investment than you first thought. Though estate agents are generally very honest about what is really wrong with a house,and its sale history you should always get your own person i.e.
a qualified Surveyor/ Structural Engineer to look over anything you are considering when you are buying rental properties.

Lettinglinks.com is a social networking site that connects landlords with tenants. If you are looking to rent out your property then visit the main site and create your account in seconds. The site is 100% FREE to use.
Gain access to thousands of UK registered tenants NOW!