AFG LAW are solicitors who can provide expert advice on buy-to-let properties. Buy-to-let is a form of investment in which a residential property is bought to generate profit from rental income. Professional advice is important, whether you are buying your first buy-to-let property or looking to build up a portfolio of investment properties.
How can solicitors help with the buying process?
Our residential property department is accredited with the Law Society’s Conveyancing Quality standard. It is advisable to have legal help from someone who is familiar with the differences of the conditions imposed by lenders on their buy-to-let mortgage products and those for an owner-occupier mortgage.
The legal considerations and financial requirements of an investment buyer differ from someone buying a home. Buy-to-let property investors will likely have specific objectives: the property needs to demonstrate that it will maintain or improve its value and that it can continue to generate a profitable income through the rents.
Buy-to-let property investors need to consider many things such as the initial property acquisition, tenancy agreements and disputes.
What are my responsibilities as a landlord?
Regardless of how active and ‘hands-on’ you want to be in renting out the property, our specialist property solicitors can help you. Some buy-to-let investors choose to pay a managing agent to manage the property; however, the owner of the property remains legally responsible for complying with the proper legislation.
Regulations in the buy-to-let sector have grown and the penalties for not complying are enforceable by the local authority through the magistrates court. Landlords have a legal requirement to provide a safe environment for tenants, employees and visitors to the property they own, and if they fail to do so, they can be sued or prosecuted in the criminal courts.
Planning consent may be required if the property is to be used for multiple occupation and you need to make any alterations or improvements for disabled access. At the outset of your purchase, professional legal advice can help keep you aware of the important considerations before you let the property to tenants, during the tenancy and at the end.
What services can solicitors help me with?
There are several services which having a property solicitor to advise you would be beneficial, some of which may include:
- business tenancy renewals / terminations
- service charge and ground rent disputes
- bringing / defending forfeiture claims
- recovering rent arrears
- taking possession of premises
- evicting squatters
Contact AFG LAW residential / buy-to-let property solicitors
Our property team can help you with a full range of legal services.
Contact property@afglaw.co.uk for further information or call us on 01204 920108
