Why first time buyers can profit from letting out their property

For many people, making the jump from renting to owning a property is huge.  Particularly these days with prices as they are – especially in the south east and London.  The years saving for a deposit, followed by tough competition and strict borrowing rules mean that when you finally get to sign that contract and get the keys to your new property; it seems like a miracle you ever made it!

However these days letting out your property can bring you huge financial gains.  You may well be eager to make it your home; but with many scrambling for places to rent, there’s a shortage of quality properties available to let and a great opportunity for property owners.

Therefore, it’s very important that landlords are across all new legislation as it could affect them. One area that’s set to be affected is energy efficiency; if they don’t upgrade their property’s energy efficiency to Band ‘E’ by 2018, they’ll be breaking the law. The new rules will cover all leases by 2020 and residential tenants will also have the right to request necessary improvement works from 2016.

Luckily there are a number of “safeguards” designed to protect the landlord from expensive works that aren’t “permissible, appropriate and cost effective”. These include where the improvement works do not meet the ‘golden rule’ under the Green Deal. This is that borrowing should be limited to the amount that would be covered by the money saved on fuel bills, or over a seven-year period where Green Deal funding is not available. Landlords will also be exempt where a tenant has refused consent to improvement works or Green Deal funding in the past five years – or where third party consents to the improvements have been refused.

At Assetgrove we can take the hassle out of letting out your property as we keep on top of all of these tricky rules and regulations. It’s a full-time job if you go it alone and it can be stressful knowing exactly what to keep an eye on. This is why we pride ourselves on making sure our satisfied clients stay that way, thanks to our regular communication and updates. As well as this, we can guarantee your rent for five years. There are no monthly fees to pay, just peace of mind for you that your property is making you money and that you will receive a cheque every month.  With our scheme, in the unlikely event that your property is empty, the cheques keep on coming.  But this isn’t our only service: we can also find you the right tenants and vet them accordingly.

Our reputation is second to none and we work with both private landlords and local authorities. Over the years, we’ve built up extensive knowledge in this sector, making us the best choice for you and your property.  So, what have you got lose? You may be desperate to move into your new home but then your property will not be making you money and you could be losing out.  Why not look further into our rent guarantee scheme with all its benefits and perks? And if you want information about the energy efficiency updates, we’ll be happy to help you out.

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