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BUILDING A BUY-TO-LET LEGACY FOR YOU AND YOUR FAMILY’S FUTURE
Bricks & mortar never go out of fashion.
People will always need homes, which makes buying to let one of the safest investment strategies around. It's also a smart way to build a tax-efficient inheritance, something today's young are becoming more reliant on than previous generations with the ever-widening gap between house prices and incomes.
Property has stood the test of time as a solid way to create wealth with an asset that’s forever in demand and can never disappear overnight. And while nobody can predict what lies ahead, there are steps you can take to accelerate your goals in life, plan a comfortable retirement, and give your children a valuable head-start.
So let’s take a look at how you can lay the foundations of a secure financial future for you and your family.
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GROW YOUR RETURNS IN THE GARDEN BOOM WITH STYLISH OUTDOOR UPGRADES
Not so long ago, many landlords saw gardens as a bit of a liability. Tenants weren't exactly clamouring for them, and landlords were convinced they'd be handed back an overgrown jungle of weeds.
But the pandemic produced a revolution in the demand and appreciation for outside space across the country. It's a trend that's never gone away, with gardens and balconies firmly on the non-negotiable lists for many tenants in Liverpool. More than that, they're willing to pay extra for the privilege.
So how can you reap the greatest reward from the outside space at your buy-to-let? And how do you match your garden or balcony to the right kind of tenant?
This week's blog digs deep, from tiny patios to family lawns and stylish luxury upgrades. Use our design and planting tips for an in-demand garden to maximise your rent and improve the value of your investment.
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IS BUY-TO-LET BROKEN? FACTS, FIGURES AND FUTURE TRENDS FOR PRIVATE LANDLORDS
There's no denying that buy-to-let isn’t the same as 10 or 15 years ago.
Changes in lending criteria mean landlords have to put in more of their own money; changes in tax policy have affected initial yields; changes in lettings legislation have changed what it is to own a rental property.
As the private rental sector has moved away from short-term profits, corporate investment in buy-to-let is on the rise, with major institutions attracted by its long-term prospects for growth and income.
But is the future only for the big boys? Or is there a place for small, independent landlords to have a thriving and profitable business? Our blog this week looks at the factors affecting the market today and tomorrow, so you can choose whether buy-to-let is for you.
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UNFURNISHED LETTINGS: WHAT FEATURES DO TENANTS PAY MORE RENT FOR?
The average age of a first-time buyer has risen to 32, and tenancies are lasting longer than ever. Not all national trends apply to lettings in Liverpool, but this one absolutely does.
With renting no longer seen as a temporary measure, tenants are looking for a sense of permanence combined with more comfort. This means surrounding themselves with their own belongings in a well-presented and well-equipped home.
While most people want to live with their own furniture, the term ‘unfurnished’ doesn't mean entirely bare. There are certain fittings that everybody expects, and others that some tenants will pay extra rent for.
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PROTECTION MONEY: A GUIDE TO LANDLORD INSURANCE AND REDUCING YOUR PREMIUMS
We all know someone who never insures anything and never has any problems. But given that £8m is paid out every day in home insurance claims, not everyone has the same luck.
Although it isn’t a legal requirement to insure rental homes, a survey of 3,000 landlords revealed that around 85% do protect their buy-to-lets. For the other 15%, research by LV suggests that landlords spend £600m every year on repairs that could be covered by insurance.
Most of our landlords are properly covered, but we also speak to some who haven’t fully considered how to protect themselves and their buy-to-let. Confidence and luck are wonderful assets, but not much use when a boiler breaks down late at night, or a tenant runs into difficulty.
A comparatively small monthly cost could save you from enormous bills and nasty surprises. With that in mind, this week’s blog looks at the different types of landlord insurance available, and how you can reduce your premiums while having complete peace of mind.