Even though property prices have fallen, it is really hard for first time buyers to get on the property ladder. For this reason many more people are deciding to rent their homes rather than buy them, and the rental market is quite strong.
If you are thinking of letting your property, then there are some regulations you need to be aware of. Firstly you need to make sure you have up to date safety certificates for gas and electricity. You also need a current energy rating certificate.
If you are letting your property furnished then you need to make sure that any soft furnishings are fire rated. This includes mattresses. Mattresses can be quite expensive if you want a good quality one, but it is possible to buy cheap memory foam mattresses which will add a touch of luxury to your furnished property.
It is always a good idea to use a lettings agent to manage your property as this should mean that they will collect the rent for you and they will also deal with any problems. But it is advisable to use one that other people have recommended as there are some who are not very efficient.
Buy-to-let mortgages are available and investing in property for the rental market can make you money, but as with any investment, it is always a good idea to take advice from a professional financial advisor before you make any big decisions.
