Optimistic landlords prepare
to take on more properties
The next few months represent the best opportunity for private residential landlords to expand their portfolios due to the fall in house prices according to a new survey.
The report by the Money Centre also found that up to a fifth of all UK residential landlords are seriously considering buying more properties in the current housing slump. Many landlords have found that their rental yields were actually rising due to increasing demand.
According to the figures produced by the Money Centre, the average rent in the UK now stands at £600 per month, while rental yields have increased by around 2.2 percent.
‘Let and Rent’ the new catchphrase
Buy to Let and Let to Buy are established phrases familiar to many. However, according to one of the UK’s largest letting specialists, Leaders, ‘Let and Rent’ is rapidly becoming the new catchphrase; as many people wanting to move home in the current economic climate choose to let instead of sell and rent instead of buy.
Leaders’ managing director, Paul Weller said: “Many home owners needing to move are finding themselves trapped as they are unable to sell their property and are either not in a position or not inclined to buy while house prices continue to fall.
“With rental demand as high as it is, renting out a home instead of selling is an attractive solution for many people wanting to move. And renting gives the flexibility many people require in these times of uncertainty.”
