A property buying mistake doesn’t have to spell disaster

In the recent climate of rapidly increasing property prices many people have been sucked into the ‘buy to let’ market, some without really thinking through what being a landlord means.

Your duties as a landlord are clearly defined as:

• being responsible for the upkeep of the structure and exterior of the property
• making sure the hot water, heating and plumbing is working correctly and is compliant with safety regulations and testing
• ensuring the property is compliant with fire regulations
• arranging adequate insurance for the property
• collecting the rent
• declaring your earnings from rental income to the tax man

What can go wrong?

In the market of a couple of years back it seemed that nothing could go wrong.  Property prices were rising, tenants were everywhere, and buying for investment seemed like an obvious choice if you had enough cash or the means to raise a mortgage. 

Things don’t, however, always go to plan; here are just some of things that can go wrong:

• your mortgage payments have become hard to afford due to interest rate increases
• your tenants have proved a nuisance, not paying rent, or causing damage
• tenants have been hard to find
• the property has cost you more to maintain that you thought
• you have agents to manage the property but they take a big chunk of your rental income
• the property market is slowing and you’re afraid your investment isn’t worth what you thought

Is it time to sell up?

If this is the case, you may be considering selling your property.  Rental properties are sometimes hard to shift because they may need redecoration or thorough cleaning, which can put off a lot of buyers.

Property Rescue guarantee to make an offer for your property, regardless of where it is.  You may have bought in a relatively unpopular location simply because that’s all you could afford at the time, but Property Rescue will still make you an offer – in any location whatsoever throughout the UK.

Give them a call to see how they can help.  Describe your property to them and a quick sale could be yours, leaving you free to reinvest your cash in a pension or savings plan that can start earning you real money for the future.

More Useful Articles

• Dont miss the home of your dreams!
• Is an easier retirement out of reach?
• The inheritance you wish youd never had
• Bankruptcy can change your life – make sure you avoid it
• A property buying mistake doesnt have to spell disaster!
• Make your redundancy earn its keep
• Is a chain stopping your move?
• Has your franchise or business opportunity failed?
• Looking for a better quality of life?
• Are mortgage payments breaking the bank?
• Need to relocate fast?
• The advantages of a cash sale
• A hassle free quick sale
• Any Home Sold
• Eliminate the costs of selling your home
• Sell your home fast and stay in control
• Sell without stress
• Sell your home fast for cash