There are certain risks in buy to let mortgages. They often depend on raising rates, which also raises your costs.
An investor might think this assertion is a bit condescending but to be reminded of the relevant risks before choosing a variable or fixed buy to let mortgage can only be beneficial.

I simply would like to discuss on this subject, to see what risks landlords usually face.
Let's talk.

Hi! That is a nice topic to discuss on, thank you once again, Working bee.
Well then, on the risks' account.
There is a risk of property remaining empty for longer than was expected. Total income for certain year is lower than anticipated because the tenant defaulted on rental payment for a few months and then disappeared. Or you can’t find an appropriate tenant when your property became vacant between renting periods.
What to do if such risk cathces you?

Hmm...
Probably, you should carry out good manner or use a estimable Letting Agent. Also make a budget for two months rental voids in each calendar year (preventive than supposed). I think this might be helpful.

What if tenants damage the property, upset neighbours or fail paying rent on time. This is an essential problem nowadays you know. This may raise your costs, lower your rental income and lead to a need to expel the tenants.
Wonder, what solutions are going to appear.

In that case, a landlord should examine possible tenants. He should also suppose employing the services of an ARLA or NALS accredited agent. Let the house/room under an Assured Shorthold Tenancy agreement. This allows to expel tenants on two months’ notice with a less of protest.
Many buy to let mortgage lenders will persist you use this type of agreement with tenants.

What to do if property is in poor condition? When a long standing tenant leaves the property the next tenant is assumed to accept the same standard. Meantime, the property might have fallen into disrepair. Ingoing tenants are not used yet to live with a slow condition reduction, unlike the long standing ones.

If you still have an outstanding buytolet mortgage, then you should aim for the rent that will not just cover your mortgage payment, but a little bit extra that could be put into your contingency fund to deal with any disrepairs, legal costs of expelling a tenant who cannot maintain rent, covering your mortgage payments when the property is vacant, etc. I understand that it's easier said than done, but guess that once you make that choice of renting your property out, you should accept that there is a risk of some sort that comes with it.

As far as I know, certain insurance options cover expenses associated with repairs as well as with legal issues. I'd suggest that you check with your insurance company first. If your rental property is not insured yet - that's just the right time to do so!

Concern with insurance company that's the great idea

In my opinion these are the greatest risks: property being empty for a long period of time, tenants damaging the property badly, tenants falling behind with rent, tenants refusing to move out. All of the above factors may eventually lead to landlord falling behind with his/her own buy to let mortgage payments and losing his/her property.

Of course their is great rest in propery being empty for a long period of time. You should make boundry wall instead of property of land being empty for a long time.

Informative forums