Buying to let.

[Khandro]

What are the pitfalls of buying a property to let in the UK, and who pays the community charge, the owner or the tenant? Please.

[Buenchico]

There's a website which is packed with information for landlords, together with forums where you can post specific questions. It's an excellent source of information (which has helped me to answer lots of questions on AB!):
http://landlordzone.co.uk/

[Skyline D]

Boxtops - No, we have the Council Tax too. We had Community Charge before England and Wales did but so far as I know Council Tax replaced it for all at the same time.

[237SJ]

Now`s a good time to buy. The prices are low and there is a shortage of rental properties in many parts of the country. When I had my place the tenant paid the council tax. I was always very careful to make sure my name wasn`t on anything. Make sure you get a sound tenancy agreement that covers everything properly. Think about whether you specify employed only, non smokers, pets etc and keep an eye out for single tenants sub-letting their spare room behind your back. Getting the water on a water meter is a good idea too.

[Khandro]

@237sj, thanks, that all sounds like sensible advice. Did you let, furnished or unfurnished?

[237SJ]

Unfurnished. It`s better I think. Keeps it simple. My house was quite old (and listed - keep away from listed as it`s a pain) so it needed a free-standing cooker. At least with unfurnished, the tenant couldn`t sue me if their cooker or any other white goods had a dangerous fault!

[237SJ]

Oh, and I used a letting agent who found me a tenant and charged 10% of the rental in management fees. I lived 200 miles from the property and I`m not in the country all of the time so it was easy for them to sort out any problems. All they had to do was get my permission for anything that needed doing (and there was with that old house, I can tell you). Which reminds me - don`t buy an old place. You`ll always have your hand in your pocket!