If you are considering taking in a lodger there's some key things you may wish to consider beforehand, especially as not everyone is cut out to be a live-in landlord. Annie Plaskett, from insurance brokers Towergate, lays out what you need to know.
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BUY-TO-LET AND LANDLORDS: TIPS, TOOLS AND GUIDES
BUY-TO-LET YIELD CALCULATOR
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MORE BUY-TO-LET AND LANDLORD NEWS
First-time buyers save £670 a year compared with cost of renting - but gap narrows from £1,018 last year
Data from lender Halifax shows that in June this year the average monthly cost of a three-bedroom home for first-time buyers was around £666 compared with £722 for renting the same type of property - a monthly difference of about £56. By June 2014, monthly costs for first-time buyers were £1,018 cheaper per year - or £85 a month - than for those renting.
Two in five Right to Buy flats sold off since 1980 are now in the hands of private landlords, FOI request shows
Nearly 40 per cent of council flats sold off at a discount in the last 35 years are now being rented out privately to tenants, a Freedom of Information request has shown. Responses by 91 councils shows they have sold a combined 127,762 council flats and maisonettes since Right to Buy was introduced in 1980, the request by magazine Inside Housing shows.
Maria Davis says she can make you a buy-to-let millionaire - should you believe her? New tax rules haven't stopped investors seeking get-rich-quick tips
New tax rules were meant to cool the buy-to-let boom but that hasn't stopped this fast-talking saleswoman giving her get rich quick tips to investors. Maria's website describes her as a sales presenter, public speaker and accredited coach, who was trained in the U.S. by a famous sales school. She was an Avon lady, presented on children's TV and is now, she will say, a highly successful property investor.
LANDLORD ESSENTIALS: WHAT YOU NEED TO KNOW
What to do with a tricky tenant and how to protect life as a landlord
Renting a property to tenants or letting a holiday home can be straightforward for those who are lucky enough never to encounter any problems. Escaping trouble altogether is unlikely, so it is prudent to take preventative measures to protect yourself and your tenants.
How to make your buy-to-let property irresistible to house-hunting tenants
You need to remember it is business, not personal. Investors must adjust their mindset and rather than being courted by the pretty garden with rows of neat flowerbeds or classic wooden floors throughout, think what is right to offer tenants - and is easy to maintain.
SIMON LAMBERT: Don't expect buy-to-let's interstellar gains to be repeated - 1996 was a much better time to invest than today
Astonishing claims of a 1,400% return over the past two decades are built on borrowed money but there's another important point to consider - property was unloved and cheap in 1996. That made buy-to-let a turbocharged value investment. Investors could still do well today, but they shouldn't expect a repeat of the past.
Buy-to-let mortgages: How they work, what you need to know and how to get the best deals
Buy-to-let has become big business as Britain's small army of property investors ploughed their savings into homes to deliver both income and growth. Buy-to-let mortgages are generally interest-only, require larger deposits and need rent to comfortably more than cover payments. We explain more in our guide.
The buy-to-let traps: How to avoid the classic mistakes that mean investing might not pay off
Those considering investing in buy-to-let - or hoping to improve the returns on their existing properties - need to make sure they aren't making common mistakes. We outline the classic errors to avoid to make sure you get the best from buy-to-let - and how to look after your tenants so they look after you.
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BUY-TO-LET: DON'T MISS
- How can I work out the real-life rental yield on my buy-to-let - and whether the investment is worth it? How do I work out my actual annual return?
- What to do with a tricky tenant and how to protect yourself as a landlord Beat the problems
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- How we built a rental home empire You may think 'why stop at one property?' but make sure you invest wisely
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True Cost Mortgage Calculator
SPONSORED LANDLORD GUIDES
- An engineer reveals five of the worst home emergencies - and how to avoid them From burst pipes to gas leaks
- Could I make extra money by installing solar panels on my buy-to-let? Who gets to keep the income?
- Do I really need insurance on my buy-to-let property? My tenant has contents insurance
- Can my tenants arrange their own boiler inspection, and should I pay for it? They want to get someone round to look at it themselves
- How to get a grant and increase the value of your buy-to-let property with solid wall insulation
- Can I move a smart meter to one of my other buy-to-let properties? Households are encouraged to get a smart meter
- Five steps to avoid buy-to-let headaches - and make sure you don't fall foul of the law The real life property game
- Can I get insurance to cover when my buy-to-let property is empty? Loss of rental income is something landlords dread
- Five ways landlords can keep tenants happy by using technology to help them save energy Energy-saving technology
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- Ten energy-saving tips that are cheap and easy to follow Help your tenants save money - and be happy
- The landlord's guide to energy saving Use our interactive house to see how you could reduce your tenant's gas and electricity bills
- From the right location to cutting down on costs, five ways to be a winning buy-to-let investor Better investing tips
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- The landlord's guide to avoiding home emergencies It's all about staying ahead of the game when it comes to home emergencies if you're a landlord.
- My buy-to-let flat's boiler isn't great and I am thinking of getting a new one But is it worth doing now winter is over?
- How to be a DIY landlord: What you need to know about going it alone in buy-to-let Things you need to consider before you take that plunge
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