Trend of Buying-To-Let in Edinburgh
In Edinburgh, Buying-to-let is becoming a growing phenomenon. At the moment in Edinburgh so many people move between work and study frequently. It is very important for these people to have a flexible lifestyle and for this reason they prefer to become a tenant. After some time of tenancy they buy their own house. There are different factors involve in buying a house after tenancy like buying a house increases the responsibility plus it involves regular maintenance. But on the other hand renting a property is easy, inexpensive and flexible. It will be great problem for you if you buy a house and then selling it to move somewhere else. In case if you have to move just because of your new job or you changed your university/college then you have to sale your house.
Capital growth and rental income growth:
There are two different ways through which a landlord can make money. Capital growth and rental income growth are two main ways. When the value of the property increase over time this is called capital growth. The local environment and conditions surrounding the property have a big effect on its value. The value of the property can be go down as well. Rental income is that income which a tenant pays to the landlord. The rental income might grow over time as well. Capital growth income and rental income growth are two ways through which landlord can make money with his/her property.
Buying-to-let depends upon:
For a successful buying-to-let there are some main factors involve which a landlord must keep in mind. First thing which he must kept in his mind he must buy the right kind of property. The location of the property must be appealing for the tenants. In case if he hunting some students for his property then he should ensure that he buys a property, which is close to colleges and universities. Another thing he must keep in mind he should be careful when selecting a tenant. A landlord must always try to choose a tenant who is worthy enough to pay the rent and also look after the property. Throughout the tenancy period the landlord should be able to manage the tenancy properly. Furthermore a tenant should meet up with the rules and regulations, which are on the letting property. It is better for a landlord that he should try his best not to get emotionally attached to the property, as it is nothing more than a long-term investment. The landlord should not treat it as his/her home.
Tenancy laws were changed in 1988, which allowed landlords to get their property, back just by giving a sufficient notice to the landlord. In 1996 special buy-to-let mortgaged for landlords was introduced by the government. This provides an easy way to people to borrow money to buy property to let. This law facilitates to landlords to quiet an extent.
LauraCampbell - About Author:
Laura Campbell is a marketing officer for Greenlet, property lettings website in Edinburgh. If you want more information on flats for rent edinburgh, please visit edinburgh to let.
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