There have been a number of changes impacting on landlords in the past year or so, is it right that people are questioning whether it still pays to be a landlord in 2017?
With the government implementing changes and schemes designed at assisting first time buyers, many landlords feel that they are being penalised in their activities. It is vital that every individual examines their own circumstances to determine if it is worth their while being a landlord but there are still many positive elements to the industry.
There is still high demand for rental property
While the Government has made moves to make it easier for people to buy homes, there is still a massive demand for rental property. This isn’t going to change at any point in the near future, so any landlord wondering whether there will be demand for property can be confident that there will be.
Of course, there will be some landlords who decide that the role is no longer sustainable for them in 2017. This means that there will be an increased opportunity for landlords who do remain in the market. The demand for property is still as high so if there is a fall in the supply of property, the people who do have rental homes to let will find that they can let their homes quickly and effectively.
Average rental prices are expected to rise in 2017
Given that there is widespread coverage of the increasing costs faced by landlords these days, it will come as no surprise to most people that costs will ultimately increase for tenants. This is an issue that many official bodies have raised with the Government in opposition to their continued influence on the property market. It is only natural that landlords will react to rising costs in their business by raising the rental price.
A landlord that can manage their costs while moving with the average rise in costs in the industry can still create a good return on their investment.
Investing in property is still a sensible idea
There is tangibility to property investment that makes it a fantastic idea for many people and this will always be the case. There is also the fact that when you invest in property, you can make moves to maintain or improve your investment, which isn’t the case with many other forms of investment.
For people looking at the long term benefits of investment, as well as the short, there is a great deal to be said for considering property investment and acting as a landlord.
Being a landlord can be a difficult role but Love Your Postcode have experience managing over 1,000 tenancies.
Legal issues, administrative tasks and maintenance work; Love Your Postcode will guide and advise you through any problems, often to the extent that you won’t even realise they have occurred.
The key to our success is that we will only let your property to fully vetted professional family/tenants who will treat and respect your property as if it were their own. In doing so, we avoid the issues other agents get bogged down in and focus on providing you and your tenants the very best service.
Have a look through our different rental packages, or book an appointment to see one of our rental experts.