Research from Nottingham Building Society states, 21% of buy-to-let investors have to wait at least four months before finding their first tenants. Completing an investment but not having tenants moving in straight away can be very costly.
Many investors do not consider the idea of buying a property with tenants in it; however, taking on a buy-to-let investment with sitting tenants can save time and money.
Benefits of having sitting tenants in your buy-to-let property
- Tenancy agreement already in place – no fuss trying to agree terms and conditions with a new tenant
- Less of a financial burden – start receiving income on completion
- No set-up costs – including finding a tenant and paying for an inventory or drawing up the tenancy agreement
- Already vetted tenants - including payment history, occupation, references, how well they look after the property and which protection scheme their deposit is in
Michael Cook, Romans Lettings Managing Director, comments: “Property remains a great investment and buying a buy-to-let property with sitting tenant’s means you can get an instant return on your investment. As soon as you complete the property purchase, you will begin to receive rental income and avoid any void periods.”
Benefits of having your own property investment team
Whether buying a property with or without a tenant in situ, our lettings investment team can guide you through the whole experience. Helping you to navigate through the legal rights and responsibilities you have towards your tenant.
They will focus on providing you with:
- Access to hundreds of investment properties with and without tenants – including Auction properties, New Homes and resale properties across 28 locations
- Advice on yield and capital appreciation – We have experts sourcing the best investment opportunities across the market looking at yield and capital appreciation
- Added value to your buy-to-let investment- including insights into properties we believe have great potential
Whether you are a new landlord or an experienced investor, we have a full suite of services that can help maximise the return on your investment. Throughout the process, our property investment team will offer advice to ensure the buy-to-let process runs as smoothly and as quickly as possible.
To find out more about investment opportunities in your local area call 01344 985 699 or view our recommended properties for investors.