Property Surveys for Buy to Let Landlords

Yes, survey costs for a property you intend to let are generally treated as a capital expense and can be offset against capital gains when you eventually sell the property. If you operate through a limited company, the survey fee is typically an allowable business expense. As tax rules change periodically and individual circumstances vary, you should confirm the treatment with your accountant, but the survey cost is generally recoverable against tax in one form or another.

Whilst a RICS survey is a condition assessment rather than a compliance audit, our surveyors are alert to common landlord compliance risks. We will flag visible concerns with gas appliances, the electrical installation, fire safety measures, structural integrity, damp and mould, and energy performance. We will also note where the property may require works to meet the decent homes standard or HMO licensing requirements. You should always supplement the survey with specific gas and electrical safety checks before letting.

We aim to complete the inspection within 3 working days of instruction and deliver the report within 3 to 5 working days after that. In urgent cases we can often accommodate next-day inspections. The key is to instruct us as soon as your offer is accepted, as good surveyors get busy and you do not want the survey to delay your purchase.

All our RICS Level 2 Home Surveys include a market valuation as standard, which reflects the property's value on the open market. We also provide a rental market assessment giving an indicative rental value based on our knowledge of the local letting market. This helps you verify that your yield assumptions are realistic before you commit to the purchase.

That is valuable intelligence. If the survey identifies significant repairs or compliance works, you have several options. You can renegotiate the purchase price to reflect the cost of the works, ask the vendor to address specific issues before completion, or if the costs are too high relative to the potential rental income, walk away from the deal. The survey fee is a fraction of the cost of buying a property that turns out to be unlettable without major expenditure.

For most standard buy to let properties built within the last 150 years and in reasonable condition, a Level 2 Home Survey is sufficient. It covers all the main elements and includes a valuation and repair advice. A Level 3 Building Survey is recommended for older properties, listed buildings, properties with visible defects, properties that have been heavily altered or extended, and any property you plan to refurbish extensively before letting. If you are unsure which is right for your property, call us and we will advise.