There are many reasons that people become private landlords. Some people plan to invest in property whilst others become ‘accidental landlords’ and find themselves in the position without much prior planning. Whether you are investing in a buy to let property, or need to let your family home there are some things that you will need to consider first.

Your mortgage

If you are letting out your property, you’ll need a specialist buy to let mortgage. You can’t hold a residential owner-occupier mortgage and simply decide to rent out your property whilst you relocate, go travelling or downsize! This is classed as mortgage fraud so it’s important to talk to your mortgage company about your plans and discuss the options. Alternatively talk to a mortgage broker who can look at the best options for your circumstances.


It’s essential that you hold landlord’s insurance, because your standard contents and building insurance won’t cover you if you’re letting the property to private tenants. Talk to an insurance specialist and find out exactly what sort of insurance you’ll need and the costs involved.

Do your sums

Look at the cost of a buy to let mortgage along with the cost of insurance and management fees, and work out what the rental income will be after any expenses to see if the figures stack up. Look at similar properties on property portals or talk to the lettings agent at your local Clyde Property branch for advice. You will need to cover all outgoings as a landlord including letting fees, Income Tax, contingency amounts in case something goes wrong and a void period contingency in case you have a period with no rent coming in. It’s worth remembering that you will need to self-declare your rental income, which will then form a part of your overall income. Therefore, you’ll pay 20% on the amount within the basic tax bracket and 40% on any higher income, minus any expenses. Talk to an accountant who can advise you on the figures.


Take a look at online to see what sort of rental prices similar properties in your area are commanding, and talk to us at Clyde Property lettings to find out how long it takes to find a suitable tenant in your area.

Consider your ideal tenant

What type of tenant would suit the property you are investing in – a family, single person, sharers, professional couple or student? It helps to know what type of tenant you’re aiming for before you start looking, so you know how to market your property. For example, students and sharers will almost always prefer furnished properties, but families will usually prefer unfurnished properties so consider the tenant that your property will appeal to before listing it. Consider the local area including transport links, local amenities and the proximity to universities/colleges or commercial hubs.

Finding a tenant

Most property searches start online, via property portals. You can’t advertise on these yourself, so talk to Clyde Property about how we will market your property. We use cutting-edge marketing techniques to appeal to the right tenant and can offer advice on a range of issues including rental value, tenancy agreements and what you can expect going forward. With 30 years award-winning experience as a letting agency in Scotland, you can trust us to take care of everything.

Get advice

Talk to our letting experts at Clyde Property if you have any questions about the rental value of a property and to find out about how we can effectively manage your investment so you can spend time on the important things in life. In the meantime, take a look at our Letting Guide.

Clyde Property is a leading independent, multiple award winning estate and letting agent with more than 30 years’ experience in selling and letting property in Scotland. Just call your local Clyde Property branch today, for friendly, impartial advice on finding your next dream home.