Armed with suitable advice from an ARLA letting agent, Buy-to-Let investors can start on a property search; or a letting agent may do this for them.

Once a property has been found, the letting agent will confirm whether or not it has letting potential, the range of the likely rent that can be achieved in current local market conditions and advise on the need for re-decoration and new fixtures and fittings to attract good tenants and to reduce the risk of lengthy void (empty) periods.

There is little difference between arranging a Buy-to-Let mortgage for investor landlord's and a standard mortgage for owner-occupation.

Buy-to-Let mortgages are subject to the usual status checks.

Loans can be arranged for terms of between five and 45 years and for up to 80 per cent of the value of the property.

Through the Buy-to-Let initiative, rents achievable from an investment property can be taken into account, provided an ARLA member agent is to be responsible for letting and managing the property.

The Dos and Don'ts of Buying to Let

DO Think of buying to let as a medium to long-term investment.

DO Seek advice from an ARLA letting agent on local market demands.

DO Get your sums right. Will the rent cover borrowings and costs, after allowing for void periods?

DO Decorate, fit out and furnish to high quality standards, especially kitchens and bathrooms, to attract the best tenants and let quickly every time.

DO Use an ARLA member as your letting agent. They are bonded, hold professional indemnity insurance to required standards, have staff trained to ARLA's competency standards and are kept up to date with the latest legal and regulatory requirements.

DON'T Let personal taste cloud your judgement. Be sure the property you choose meets market requirements.

DON'T Purchase anything with potential maintenance problems like a lot of woodwork or large gardens. It will add nothing to the rental value and cost a lot to keep up.

DON'T Think that the running of an investment property to let can be left to friends or relatives in your absence. Tenants require a full management service.

DON'T Use off-the-shelf tenancy agreements from HMSO or law stationers, or forget to issue the right notices or fail to have a proper inventory and condition report made before a tenant moves in. Leave all documentation to a professional agent.

DON'T Furnish with second hand furniture or cast-off soft furnishings. These will probably contravene the Furniture and Furnishing Regulations.