Can I buy a Property on Buy to Let and Rent it out Myself?

If you decide to buy a property you will find that it is one of the best ways for you to build a portfolio and create residual income. However, many people are unsure as to whether they should buy a property and deal with the management of the property themselves or if they should work with a property company to find an investment property and look after it for them.

Let’s take a look at the benefits and negative aspects of managing the property yourself and using a property company so you have a better idea of what you should do.

The Benefits of Using a Property Management Company

There are many benefits associated with using a property management company. Companies such as these are usually up to date on property laws and requirements. Some companies can even offer a full end-to-end service covering financing, furnishing and after sales.They can help you establish how much you should charge your tenants. They will also assess the rent for you to make sure you’re getting the right amount of money.

You won’t need to communicate with your tenant as they will, and they’ll even respond to an emergency should it arise. What’s more, is they know who to call if an electrician is needed, for example.

A property management company will also deal with a change of tenants, inspections, applications and security deposits.

The Negative Aspects of Using a Property Management Company

The only real negative aspect associated with using a property management company is the effect that it has on your profits as you will need to pay for the management service. However you don’t have to worry about managing the property yourself or the time it will take. You won’t have advertising expenses, administration costs and the costs associated with processing an applicant.

The Benefits of Renting a Property out Yourself

The clear benefits of renting a property out yourself is the money. You get to keep all of the rent that a tenant pays you. What’s more, is you can rent the property out to whoever you please.

The Negative Aspects of Renting a Property out Yourself

The negative aspects of renting a property out yourself include searching for a tenant, having to inspect the property, advertise the property and dealing with security deposits. You will have to be prepared to do a lot of work especially if there is an issue with the property.

If you can afford to let a property management company deal with your buy to let property you’re more likely to have a good tenant, and any property issues will be dealt with.

About Us

Slater Forbes are one of the leading property investment companies specialising in off-plan property

20 Years Experience

Please note that Slater Forbes Investments is not authorised or regulated by the Financial Conduct Authority and is not permitted to offer financial or investment advice to UK resident investors, whether or not the intended investments are regulated or unregulated. We strongly encourage all prospective purchasers to consult an FCA-authorised Independent Financial Adviser before committing to any form of investment. This is not an offer to participate in a collective investment scheme as defined in section 235 of the Financial Services and Markets Act (2000) and Investors will not have access to the Financial Services Compensation Scheme or the Financial Ombudsman Service. This website, videos and documents referred are intended to provide general information concerning the proposed development, construction and the management of ”The Development’. The information provided has been prepared in good faith and to give a fair overall view of the Development. Photographs and electronically generated images, furnishings and accessories featured are for illustrative purposes only. All information provided by us at our web site or otherwise is provided on an illustrative basis. This email is for the sole use of potential business partners and/or prospective purchasers. We recommend that all appropriate commercial, tax and legal enquiries and advice is taken before entering into a legally binding contract to purchase a property forming a part of the development. All investments attract a degree of risk and Slater Forbes encourage all clients to undertake their own due diligence. Property prices can fluctuate and the value of your investment may go down as well as up. Prices and financial illustrations are provided as guidance and are examples of the possible discounts, yields and returns that investors could achieve. Copyright in and to this website and documents and videos referred belong to Slater Forbes, which is a trading name of Green Key Sales and Lettings Ltd, which is a UK registered company no 10037602.