Mortgage Calculator

Once you have decided, having used a buy to let mortgage calculator, that letting out your property while you pay off the mortgage is the best way for you to secure your financial future, there are many steps to take to ensure  both yourself and the tenant have an easy and stress free time together.
First of all, make sure you are making the right decision by checking the best mortgage calculator you can find to see if there are any cheaper options. If you have decided that you definitely want to rent out your property you need to first make sure that it is safe and secure for your tenants (any changes or repairs will need to be paid for by you as the landlord), and you will want to tailor the property to the kind of tenant you are looking for.
You will not want the house sat on the market for a long period of time so make it as attractive as possible to potential tenants and make sure it is well advertised.
Once you have a tenant that is interested in renting from you, there are a number of steps to take to make sure you are protected financially. Firstly, make sure you get good references for the tenant. These can come from an ex landlord, or if this is the first property they have rented you should be thorough and get references from a credit agency (to ensure they have a good credit rating), and an employer or personal reference to reassure you that the tenant is in secure employment and also that they will respect your property and leave it in the same condition they found it. This can save you a lot of money as, should your tenant not be respectful of the property, or be unable to pay rent, you can find yourself struggling with your mortgage payments as you try to fix the property or wait for the money to come in.
Try to visit the property on a semi-regular basis to check that it is being looked after and that there aren’t any problems that need dealing with. Do not enter the property without the tenant’s permission and always call in advance as you need to understand that while the tenant is paying rent the home is theirs and not yours. Checking in regularly will also mean that any problems that might turn into long term and expensive issues (drainage problems, heating concerns etc) you can deal with quickly. This will also lead to a happier tenant who is more likely to stay for a long time.

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