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Removal of income tax relief on mortgage interest, so you could have an economic loss but tax profit
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CGT rules changing next April so your tax liability worsens.
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Tory membership application
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Yield being worse than other obvious investments
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Are you managing the let yourself, or through an agent.
Openrent is a piece of piss, and let's you known all of your obligations. It also means you can charge 10%+ less than others.
It also means not dealing with estate agents.
You'll need a gas safety certificate each year, and it's probably worth a leccy one for the start of the let.
Your tenants have the right to know your address - meaning they could knock on your door at 3am...
Also, your current freehold management agents might choose this as an opportunity to rinse you for more cash, in return for doing fuck all.
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You'll pay additional stamp duty unless you move out of yours and into this one (you don't pay extra duty on your main residence) but it's a no brainer - if you can make the rent cover the mortgage and set it to 30 years you have a very tidy pension that you don't have to pay into! I'm an accidental landlord in that I bought a flat at the height of the crash and when it came to move to a bigger place we couldn't sell but seeing as we had no equity, the bank recommended we keep it and move on. that was 13 years ago and we've been lucky so far (touch wood)
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@Dammit
If I buy another flat in my block then rent it out what do I need to be aware of- additional stamp duty, a buy to let mortgage, landlords insurance, anything else?