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Serviced accommodation often gets attention for the higher nightly rates it can generate. On paper, the income looks much stronger than a traditional tenancy. But the full picture is more complex, and the costs can take many first-time investors by surprise.
As many of you will know, the Government’s Renters’ Rights Bill is now moving through Parliament, and it looks set to bring some of the biggest changes we’ve ever seen in the rental sector.
Think you need a huge deposit to buy your first home? Not necessarily. While the old “you need 10% down” rule still applies for most buyers, there are lenders out there offering 100% mortgages — meaning you could buy your first property without putting down a penny in savings.
Sometimes, the best lessons come from seeing what can go wrong. Letting a property can be rewarding, but cutting corners or missing key steps can lead to big headaches, costly mistakes and even jail time!