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HOW TO HELP YOUR CHILD START THEIR OWN BUY-TO-LET BUSINESS
Imagine if your child was already financially independent by the age of 25. How proud would that make you feel?
With the UK’s massive housing shortage, rents are being pushed higher and higher. This means more private landlords are urgently needed, and buy-to-let is the ideal business to begin at a young age.
Your child can buy a property as soon as they turn 18, and by starting with low-value, high-yield homes, they can slash the costs of getting going and earn excellent short-term returns to reinvest.
Whether or not you’re an experienced landlord yourself, you can help your child begin their rental investment journey towards a happy and successful life - surely every parent’s dream.
With that in mind, this week's blog is packed with tips for supporting your child to save up, secure their first rental property, and build their own successful buy-to-let business for a solid financial future.
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YOUR NO-NONSENSE GUIDE TO THE CURRENT RATES AND ALLOWANCES
There have been lots of changes to the way landlords are taxed over the last few years, creating plenty of confusion and leaving some questioning whether buy-to-let is a worthwhile investment.
The answer is very much a personal choice, but having complete clarity is a great place to start when deciding on your future.
Whether you already own a rental property, or you're planning to buy or sell one, the changes in policy affect:
- Stamp duty land tax
- Mortgage interest relief
- Income tax
- Capital gains tax
- Corporation tax
So if you want to be completely sure of the latest rules and claim back every allowable expense, this week's blog is for you.
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DISCOVER THE TACTICS THAT MAKE BUY-TO-LET STILL WORTH IT IN 2023
“Is buy-to-let still worth it?” Hardly a day goes by when someone doesn’t ask us that question.
For a lot of people, the answer is no. Changing lettings law and tax rules have caused many landlords to drop out and sell up, particularly if rent is their main or only source of income.
But here's the thing: many private landlords are still actively expanding their portfolios, and
large corporations are starting to invest heavily in rental homes. So why is that?
Well, they're embracing change, and forward-thinking investors are building strong and profitable strategies around the new factors affecting buy-to-let, including:
- Tighter financing and lending rules.
- The rise of energy-conscious tenants.
- New opportunities with the Renters (Reform) Bill.
- A switch from short-term yields to building long-term wealth.
- Competition from corporate landlords.
Another huge change in the lettings world is that almost half of landlords are now aged 40 or under. So let's look at how a new generation is planning a bright future with buy-to-let.
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HOW TO FIX CONFLICTS AND DISPUTES WITHOUT LOSING YOUR HEAD
What's your biggest fear about being a landlord? For many, it's the prospect of getting locked in a lengthy dispute with their tenants while trying to keep their cool.
It’s rare for any landlord or tenant to set out looking for conflict, but sometimes the unexpected causes disagreements and discord. And when a problem strikes, having the tools to deal with it quickly and effectively can truly preserve your sanity.
From proactive measures to reactive steps, it’s worth getting a handle on things like:
- Setting your property and tenancies up to be problem-free.
- Disputes over damages and security deposits.
- Handling neighbour and nuisance issues.
- Getting late and unpaid rent back on track.
- Serving notice and evictions.
The good news is that, with the right info to hand, tackling issues is less stressful than you might think. So, let's look at how you can fix conflicts and disputes without losing your head.
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HOW TO CREATE THE BUY-TO-LET NICHE THAT’S PERFECT FOR YOU
Buy-to-let is undergoing a massive transformation right now. Poor-quality homes are getting squeezed out by tightening legislation, and short-term profiteering has fallen away through changing tax laws. As a result, many landlords have sold up.
But if you're in it for the long term, buy-to-let can still be a highly profitable route to financial security, particularly if you can serve an overlooked segment of the local rental market.
Finding a speciality has many sides to it, including:
- Identifying gaps in the market
- Looking beyond appearances
- Playing to your strengths
- Becoming a popular figure
- Targeting the very best tenants
There’s plenty to unpack, and we’ve broken it down here into snackable chunks of inspiration and expertise to give you a head start on creating the perfect niche.
Why sell or let with us?
Here are some of the reasons why you should choose Homelets to sell or let your property:
- Dedicated Local Experts
- 24/7 Contact
- No Commission
- No Sale No Fee
- Accompanied Viewings
- No Let No Fee
Submit a valuation opposite or call us on 0151 280 4047.
