Buying to let is an increasingly popular option for property investors in the UK in spite of changes to Stamp Duty Land Tax rules in 2016, with an often excellent return on investment but it can come with its own set of unique challenges for both new and experienced landlords alike.
Farleys’ conveyancing team is experienced in assisting landlords through the process of buying a property, letting it out and managing the property with continued legal support throughout.
Types of Buy to Let Purchases
As you will know there are many different kinds of properties you can purchase with the intention of letting them out and many different ways in which you can let it out; from varying lease lengths to HMOs and student accommodation.
Why Use a Buy to Let Solicitor or Specialist Conveyancer?
Our experienced buy to let specialists will do all they can to take the stress away and ensure you go through the correct procedures with minimum hassle.
Initially, the process is similar to buying a residential property to live in yourself and as you know, in that case, it is always advisable to instruct a legal professional to complete the conveyancing side of it.
Once your lawyer is informed of your intention to let the property you wish to buy they will be able to ensure all paperwork and mortgages allow this.
When the property purchase is completed and you are ready to find tenants, a tenancy agreement must be drawn up. This agreement may need to include clauses specific to your circumstances so a bespoke tenancy agreement should be drafted by a legal expert.
As a current or prospective buy to let landlord, you will have certain responsibilities and obligations to ensure that the property you let out meets certain legal standards including;
- Electrical safety
- Gas safety
- Fire safety
- General health and safety
- Energy standards
A buy to let solicitor or conveyancer can advise you on any potential issues within the property that will need to be addressed before tenants move in. Some of these issues you may not have picked up on yourself so it is useful to get a professional view.
Why Choose Farleys Solicitors
Farleys Solicitors are a full service law firm who can assist with Buy to Let property purchases, property regulations, tenancy agreements, tenant and landlord disputes as well as private client matters including updating your Will to include provisions for your new property and probate matters.