BUY TO LET
Finding The Perfect Investment
Smart Investment & Management offers credible, step by step guidance from start to finish to acquire your new buy to let property, whether you are an experienced investor or new to the private rented sector.
VICTORIA RIVERSIDE, LEEDS - YIELDS UP TO 7%
Smart Investment & Management are pleased to offer the opportunity to purchase a range of penthouse apartments within the stunning new development, Victoria Riverside.
Phase 1A of the development is now completed, consisting of three blocks of apartments, A, C and D. An on site 3,400 sqft retail space will also be constructed on the ground floor of Mill B (phase 1B) to offer occupiers amenities.
The development is ideally located to be incorporated into the re generation of the Leeds South Bank, meaning that there is strong potential for capital growth moving forward.
MANOR MILLS, LEEDS - PRICES FROM £85,000
Manor Mills is a very popular development with city dwellers, primarily because of its easy access into and out of the city centre. It is a large and sprawling development, with most apartments having large windows, spacious interiors and balconies. Ideally positioned for easy access into and out of the city, with the main motorways to the north and south, being a short drive away.
2 HIGH COURT, LEEDS - LUXURY APARTMENTS
High Court is characterful building located on High Court, just off of The Calls in Leeds City Centre. This is a prime residential sales and lettings location due to its proximity to many significant amenities, employers and transport links.
The development consists of three stunning apartments, all finished to a high standard throughout, with fantastic views of the Leeds Parish Church. The developer has taken extra care to deliver the highest specification possible within the apartments with fittings such tailor made fitted wardrobes, wine coolers, wet room bathrooms and cream & graphite glacier acrylic kitchen units.
The first step into the buy to let market is identifying where you wish to purchase your property. Some investors may wish for their assets to be close to home, but others in cities far away. Either way you need to identify the pros and cons of the location, check the let ability in the area is strong and as a result, ensure the future success of your investment.
THE STEPS TO SUCCESS
Popularity of the area is key, factors to consider are transport links, amenities, attractions, schools and most importantly local employment. You will also need to identify your target market; young professionals, families or students. These groups have different requirements to consider and yields will vary. Seeking advise on up and coming areas is essential.
CALCULATING PERCENTAGE YIELDS
We always advise to be familiar with the gross and net yields of any buy to let property you are considering purchasing. To calculate the gross yield, divide the gross income PA by the property purchase price and multiply by 100. Net yield is calculated the same way but divide your net income (gross income minus any costs, i.e. service charge and ground rent PA) instead of gross income.
APPOINTING THE RIGHT MANAGING AGENT
Appointing a trustworthy managing agent to look after your property from the beginning its essential. A good agent will always ensure your property is well maintained and will ensure a good quality of tenant who is reliable at paying rent and treats your property like it is their own home. A good agent might be slightly more expensive than some, but is worth every penny. We offer tenant find only and full management should you wish to discuss these services with us.
GET PROFESSIONAL FINANCIAL ADVICE
Speak with a qualified advisor to ensure your finances are in order. It is essential to keep yourself informed throughout the whole buying process. While things may seem confusing at first, a highly trained and certified advisor will be available to answer any of your questions or concerns and search the market for the right product to suit your personal circumstances. We work closely with trusted advisors and will be more than happy to refer you to them.
TAX ASSOCIATED WITH BUY TO LET
There are many elements of tax you will need to take into consideration when purchasing a buy to let property. The main element is stamp duty (SDLT), which will be applicable for any buy to let property at a minimum of 3% of the purchase price. Visit /stamp-duty-land-tax for the up to date thresholds. Income tax and capital gains tax are two more elements that you will need to take into consideration.
The above should be taken as a brief summary. For further information or any queries please contact us and we will be more than happy to discuss any of the process in more detail.