Landlord Update for May
How to get more yield from your Buy to Let Property
Lou Fletcher from Piccolo Sales and Lettings in Salisbury provides our Landlord Update for May. This month, she looks at how to get the most yield from your Buy to Let Property.
While huge 10%+ initial yields from single lets are mostly behind us, it doesn’t mean buy-to-let isn’t profitable or that higher yields aren’t possible. Here are our top tips for ensuring your investment property delivers for you:
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Target high earning professionals
Use the tips in our recent blog to upgrade your buy-to-let to get the highest possible rent. Busy and successful people will happily pay more rent for a stylish and high-quality specification.
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Explore multi-lets or HMOs
You could double or triple the monthly income of your property if it can take five or more unrelated people living in it, each on a separate tenancy. Remember that you’ll need a license from the local authority, and there are stricter fire-safety regulations along with extra management.
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Consider building to rent
Corporate organisations are making a big move into build-to-rent, but there’s nothing to stop independent landlords from partnering with local building contractors and property developers to pool their expertise on higher-yielding projects.
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Invest in less popular property
People’s dream homes to buy tend to be either period properties or brand new ones. However, some of the highest-yielding buy-to-lets are homes built in the 1980s, 1990s and early 2000s because of the rent they achieve against lower purchase prices.
There are many buy-to-let models and plenty of opportunities for a healthy business. With some creative thinking and openness to new ideas, the rewards can be significant for landlords and tenants alike.
What’s your next step?
Property has proven itself time and time again as one of the safest investment strategies. People will always need a home, and, whatever happens in the market, your buy-to-let cannot disappear overnight. There’s a reason for the phrase: “as safe as houses”.
Whether you’re an experienced landlord or looking to buy your very first rental property in the Wilton or Salisbury area, Piccolo Sales and Lettings are here to help you make the most out of buying to let. If you’re interested in finding more about anything you have read in this Landlord Update for May, give them a call on 01722 580059 or email them at info@piccoloproperty.co.uk for friendly and expert advice.
Please note. While we take care in choosing local property partners to recommend to our clients, we cannot be held responsible for the service they provide.
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