Most landlords 'want to buy extra properties'
Published by Sarah Ashcroft
The majority of landlords are thinking about adding additional properties to their portfolios with the intention of renting them out, according to the latest research on the subject.
New figures from Allan & Bath show some 58.4 per cent of landlords will consider the prospect of investing in further buy-to-let
homes in the future. The Ringwood People has told how the local lettings agent surveyed property owners in the region and discovered there is a willingness to increase the size of property portfolios.
With a greater number of people than ever relying on rented accommodation, it is a good time for landlords to offer places to live. The average age of a first-time buyer is now 38, indicating just how long many individuals have to rent their home.
Nick Beavan, branch manager of Allan & Bath in Ringwood, said: "Over the last 24 months we have seen an increase in accidental landlords - ie those that have ended up letting through circumstance rather than choice. This may be as a result of being unable to sell, inheriting a property or moving abroad, but many of those accidental landlords are considering growing their portfolio in the future."
He went on to explain that the amount of rental stock available in the market is growing all the time, meaning tenants have more choice. It is also a sign that the sector is a lucrative one for landlords at the current time.
The property market is still a little slow, meaning those landlords with the capital to push through a purchase will face less competition from other buyers than may normally be the case. This can allow them to complete deals for lower prices.
With so many people requiring a rented home, it makes sense to build as large a portfolio as possible at the current time. Landlords should simply remember to stay on the right side of the many regulations they must adhere to in order to avoid potential punishments.
Published on: April 12, 2013
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