Landlords urged to think like businessmen

Landlords should think like businessmen to ensure they stay one step ahead in the property rental sector.

Writing in UK Landlord, chairman of the National Landlords Association (NLA) David Salusbury acknowledged that rents have been falling, though demand is still high.

He advised investors to be like "prudent businessmen" with their assets, adding: "Landlords need to review their property portfolios, look at how they find tenants, the facilities they provide whether they can make their rents more competitive."

Those who can add to their stock should do so as prices have fallen, he suggested.

The NLA said that although there are fewer buy-to-let mortgages around, the ones available are very "competitive".

Investors may wish to take legal advice on issues concerning rent and tenancies as they consider their property portfolios.

One longer-term trend that may influence investment decisions is the growth of single person households.

Last week TV presenter and co-owner of Uber Interiors Melissa Porter commented that there has been a particularly large rise in the number of young professional women living alone in recent years.

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Published on: March 24, 2009

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