October has seen a surge in people seeking buy to let advice, with the number of BTL enquiries from within the PRS rising from 17% in September 2011 to 25% in October 2011.
The increase in people looking for guidance on property purchase loans in the private rented sector has been fuelled by rising rental yields, making the buy to let market an attractive and worthwhile investment opportunity.
With First time buyers being priced out of the market and others finding it difficult to obtain mortgages, many people are forced to spend much longer in rented property, providing a healthy income for the landlord.
There is currently such a strong demand for rented property in the UK, and with available housing being in short in supply, prospective tenants are now competing with each other to even be considered as candidates for properties.
In some parts of the UK, future tenants have begun submitting their CV’s to Landlords to show that they have the necessary qualities to be ideal tenants.
There is another way for UK Landlords to make sure they get the best tenants, Legal4Landlords offer a range of tenant referencing and credit check options as well as a wide range of services for landlords.
Information on a prospective tenant’s CV can give a small amount of insight but it does not reflect the tenants integrity or financial status. Landlords should always make sure they do thorough due diligence with all tenants, after all it is in the landlords best interests.