Considering buying a property to let it out? You’re not alone. Property finance experts agree that the change to stamp duty will boost the Buy to Let market according to a recent report from Property Wire.
If you want to get ahead of the competition for Buy to Let properties, Stewart Milne Homes have a stunning collection of apartments in The Plaza at Riverside Quarter, Aberdeen that are ideal for letting. These attractive homes are perfect for newlywed couples and young professionals. This means that when you choose to let out a home at the Plaza you’ll be in the position to break into the 26 – 35 year old renter market; the demographic which were are most likely to rent in 2014 according to recent research from HomeLet.
If you want to find the perfect home to rent out but aren’t sure where to start, take a look at our guide for buying to let at the Plaza.
Why Should I Buy to Let?
Buy to Let is an attractive prospect to many as it allows them to buy a property to use as an investment or an additional source of income.
When you purchase one of Stewart Milne Homes’ stylish new apartments at The Plaza our recommended monthly rental rate ranges from £1100 per month for a first floor apartment and £1200 per month for a ground floor apartment.
How do I Finance Buy to Let?
Like any investment, it’s important to review your existing finances to ensure that buying a second home to rent out at The Plaza is the right option for you.
Stewart Milne Homes understand that buying a second home can be a big commitment, that’s why we can arrange an appointment for a free independent financial advice service that will help guide you through the process of creating a budget, finding the right mortgage for you and explaining the fees involved in buying a new home.
How Much Time Will I Spend Managing the Property?
Although your tenant will be responsible for looking after your property, when you’re a landlord it’s your responsibility to carry out maintenance work and repairs on your property. New homes in The Plaza are the ideal option for landlords with busy lifestyles as they are built to exceptionally high standards and come with new fully fitted high spec kitchen and bathroom appliances, fixtures and fittings.
When you buy a property to let out at The Plaza you can enjoy the peace of mind that comes from knowing your property is covered by a 10-year NHBC warranty. This means you don’t have to worry about being hit by a costly building repair or restoration bill after your tenants have moved in.
Using a reputable property management company is also a convenient way to manage your property if you don’t have time to be a hands-on landlord. For a monthly fee or percentage of the rent, they will take care of sourcing tenants, organising repairs, inspecting the property, etc.
What are the Legalities of Buy to Let at The Plaza?
If you want to let out your home to multiple occupants who aren’t related, you’ll need to apply for an HMO license. This simply stands for a House in Multiple Occupation licence and, you can apply for it through the local Aberdeen council. If this is your first time renting out a property, we highly recommend reading the UK Government’s guide to the HMO licence found on their official site.
Find the Perfect Home to Let at The Plaza
It’s important to carefully consider the location of your property when you’re looking to let it out. The Plaza is popular amongst potential landlords as it is situated in the highly sought after Riverside Quarter area of Aberdeen. When you visit the development for yourself it’ll be easy to see what attracts renters to this highly enviable location.
Situated in the charmingly historic grounds of the Davidson’s Paper Mill, The Plaza is nestled in one of the most scenic areas of Aberdeen. Simply step outside of your home to enjoy Aberdeenshire’s tranquil countryside or, travel the short distance into the City of Aberdeen to enjoy all of the entertainment options and career opportunities available in this thriving city.
Once you step inside the new homes at The Plaza you might be tempted to move into it yourself. Stewart Milne Homes’ award winning design team have created a variety of unique apartments that have been built to take advantage of the surrounding area. Our new homes feature large picture windows as well as their own balconies or private terraces.
Our homes at The Plaza have been designed with flexible living spaces and styled with a neutral colour scheme so it’s easy for your tenants to personalise their new home after they’ve moved in.
Take the first step towards finding your ideal Buy to Let home at The Plaza today. Browse our range of stylish apartments online now.