Buy to let/renting

TAG9

Hi all,

I’m looking at getting into the landlord/buy-to-let market and I’d appreciate any help or feedback with the below questions.

As a bit of background, I currently have two properties I rent out so not a complete novice to the industry. I’ve a not insignificant capital base and am looking at possibly purchasing a couple of investment properties with a view to renting them out to either students or social welfare/HSE fixed tenancy. The figure all add up (in an ideal world of course) and a ROI of over 10% should be achievable.

Does anyone have any experience of the above and/or have any tips or advice?

- What is the general attitude towards lending to this type of business from the banks perspective?
- Would there be any leeway on the 70% LTV?
- Would they be open to increasing this type of portfolio over time? Perhaps with once new property per year.
- Are there any costs aside from legal, stamp duty, PRTB, Property Tax, Insurance and maintenance/repair fund?
- How much of a maintenance/repair fund should be by holding every year for student lettings?
- Anyone have any experience with the HSE/social welfare fixed tenancies agreements?

Any general advice on any of the above would be much appreciated. Thank you.

Michael D Not Higgins

-There is leeway on the LTV however there were only a tiny fraction of the loans last year that got the exception to the rules.
-If you can fund the purchase there shouldn't be a problem with buying more.
-Your costs should also include income tax at the marginal rate less any allowable deductions.