Buy-to-let properties in West London: making the most from your investment

Using the knowledge of local experts to see better returns on your Hammersmith rental property

George Osborne’s recent announcement that from April this year stamp duty will be 3% higher on the purchase of additional properties, coupled with restrictions on mortgage-interest tax relief means landlords face more challenges than ever. Getting the right tenants and managing their property is more vital than before, in order to see a return on their investment.

A recent article for the Daily Mail’s This is Money site detailed “The 7 golden rules of buy-to-let”. In the article, Graham Norwood outlined his tips to success in the rental market.

One factor of key importance mentioned in the piece is how useful using a lettings agent can be:

“It’s tempting to do it yourself, but private lettings are complicated with new housing laws and major health and safety regulation changes every year — including checks on tenants’ migrant status from February.”

By handing over the stresses of regulations and not having to deal with your tenants directly, your investment becomes far less time-consuming, taking the hassle out of property management.

Another important factor to consider before purchasing or choosing a lettings management package is which agency to go with. Local knowledge can help massively when deciding what type of property to buy and who to market it at. Seek the opinion of the experienced local estate agent who is familiar with the area’s property market.

Before you take the plunge and invest in buy-to-let, research local agents’ websites, think about transport links, school catchment areas and property prices and your target market. View the properties with the estate agents to see how skilled the staff are at showing the property. Ask the estate agents questions – their knowledge of the area can help you make the right decision.

At Horton and Garton our Lettings Manager Ashley Clements (MARLA MNAEA) has had 10 years’ experience of letting property in the area. If you are considering a buy-to-let in Hammersmith or elsewhere in W6, W12 or West London, local knowledge and experience can help your investment succeed.

Find out more about the lettings management services we offer for landlords, and why we’re Hammersmith’s first choice for landlords.