Is now a good time to be a landlord?
Yes, it seems landlords think so.
A wave of optimism is sweeping across the lettings industry with landlord optimism at its highest for four years, according to the latest figures.
In a recent survey, 65 per cent of landlords surveyed described their own lettings business’ prospects as ’good’ or ‘very good’.
Landlords are still experiencing high levels of tenant demand which is predicted to rise further. It is encouraging to see yields remaining at a healthy level and general confidence across the sector.
The findings reflect the feelings of landlords using our landlord services. We speak to landlords across the entire UK every day and the mood is positive in the sector, although landlords are playing it safe.
They are becoming increasingly cautious, many have learnt from mistakes made in the tough economic climate. We’ve seen landlord’s insurance and tenant checks both rise significantly, trends we expect to continue.
Last month Paragon reported on average, landlords expect to have 13.1 residential properties in their portfolios in a year’s time, compared to 12.6 properties currently. This was the first time in two years that landlords predicted an increase in the number of properties in their portfolios.
For new landlords looking to enter the market, make sure you speak to the experts before making a purchase and don’t cut corners. Whether its Energy Performance Certificates, registering deposits or tenant referencing – Legal 4 Landlords can help.