In recent years, we have seen the emergence of more and more people who are choosing “let to let” – that is, people who own an investment property which they let to tenants, but choose to live in a rented property themselves. Renting a home when you can afford to buy one seems to be counterproductive, but there are various possible reasons behind the increasing popularity of this lifestyle choice.
Many people prefer to flexibility of living in a rental property. When you live in a property which you rent rather than own, you have much more freedom to move as the mood takes you, and you are less tied to one particular location. You are also freed from the responsibility of repairs, maintenance and dealing with problems. Renting may also give you the chance to live in a bigger and better home than you would be able to purchase. Many “let to let” landlords live in rented accommodation in very sought after areas of London, while receiving rent money from their investment properties in cheaper areas of the city.
Some people simply haven’t found a property they love enough to purchase and live in, but still want to get the benefits of an investment property and a foothold on the property ladder. This is also a practical option for couples who own their own properties, but want to move in together; they can retain their properties and let them to tenants, and move into a rented home together. This saves the trouble of selling their old properties and allows them to make an income.
“Let to let” landlords often make the money for their own rent from the tenants who are living in their investment property. If you are interested in the idea of let to let, if you are a tenant in search of a new home, or if you are an investor looking to purchase a buy to let property, we can provide the support, help and advice you need. If required, we can completely manage your property investment for you and pay you guaranteed rent, ensuring you can reap the benefits of being a buy to let investor while still enjoying the advantages of living in a rented home. Contact us to find out how we can help you with investment properties in Redbridge and throughout the rest of London.