Do I Need to Take Legal Advice on My Property Investment Choices?17 07 2018
Making the decision to invest in property is a wise one but it comes with a caveat. You must be patient. While the process is usually fairly straightforward, there is a lot of fine print. It’s essential to complete all the necessary legal steps to cover yourself and protect your investment.
A Complex Asset Class
Many of our clients ask us whether they really need legal advice when they already have our Alesco team to guide their property investment through to fruition. We always respond in the affirmative because property is a complex asset class. Legal advice will clarify the strategic and commercial demands placed upon you.
Our team is, of course, aware of the laws and regulations surrounding property investment. However, it is important to have a solicitor to guide you through the specialist aspects of the process.
A professional UK-based solicitor will also help to minimise the risk of loss or even avoid civil/criminal liability. He or she will help you with all the essentials at all stage of the investment cycle. This might include arranging surveys and drafting tenancy agreements for your buy to let property as well as explaining your rights as a landlord.
Building a Strong Investment
They may also offer advice on proper due diligence and help to negotiate a strong lease. A good solicitor can also arrange contracts, guide you through the finer points of capital gains tax, fulfil stringent requirements on protecting tenants’ deposits and complete all necessary transactional documents.
Rental properties must meet various legal requirements and a solicitor will ensure that these are satisfied. Strong legal advice will identify any barriers to your investment such as restrictive covenants banning letting or restricting the way the property may be let.
A recommended solicitor will complement our Alesco services to position your portfolio for the best return on investment in line with your goals. If you wish to invest in property or you’re a current investor in need of guidance, give us a call on 020 3281 7430.