For those that have taken advantage of the low property prices and low interest rates to enter the buy-to-let market the following key points should be noted to maximised their return.

Work out the best type of tenant to match your short and long term objectives.  Would a family on a long term let with slightly less rent, or young professionals who pay higher rent, but stay for a shorter time, be more suitable?

Allow 10% of the rental income for any repairs as these will reduce taxable income at year end.

Take out specialist insurance to cover the rent, so that losses will be covered if the rent is not paid.

Don't include bills in with the rent as fluctuating energy costs could significantly lower the rental income.

Put electrical appliances and boilers under a service agreement contract, which means the tenant can contact an engineer directly in case of an emergency and reduce repair costs.

Get thorough references and a credit check for any tenants before the lease is signed to ensure they are reliable.

Obtain written permission from your mortgage provider (and freeholder or managing agent if the property is leasehold) to ensure the mortgage conditions are not being broken when letting the property.

Inform the buildings and contents insurance provider.  contents insurance is available even for unfurnished properties, as it will provide a degree of public liablility insurance which is essential.

If the property has a gas supply of any kind, a Landlords Gas Safety Certificate will be required and should be certified each year.

When the property is marketed, an Energy Performance Certificate (EPC) will need to be in place and available for any prospective tenants to view on request.