We are seeing an increasing number of tenants moving within the private rented sector either because they need more space or because they have been relocated by their employment. This, coupled with demand from new tenants renting for the first time is keeping the rental market in our area very buoyant indeed. Whilst investment landlords may not be getting quite as high returns as they did a couple of years ago, the appeal of the Buy to Let market shows no sign of slowing down.
The number of people who are becoming landlords that previously would not have considered this option in the past is also on the increase. For example young couples setting up home together for the first time who each own a property, are being tempted into keeping both properties and letting one of them out to keep as an investment. Another recent trend is for the families of elderly relatives who have gone into residential care to let out the vacant property creating an income that can be used to part fund the cost of the residential care.
Owning an investment property appeals to a broad band of people as it gives them control over their investment. They can see what is happening to property prices and if required they can sell to release the equity should it be required.
For advice on all aspects of letting a property, including Buy to Let mortgages, please do not hesitate to contact us and we will be happy to go through all the options with you.
Michael Clarke, Lettings Director, 01252 514000, email@example.com