Market conditions bring opportunities for landlords

Falling house prices; rising tenant demand; the slow sales market and the new stamp duty holiday all add up to some exciting opportunities for landlords, according to Leaders, one of the UK’s largest independently owned letting specialists.

Says Leaders’ managing director Paul Weller: “With demand for rented property currently at an all time high and house prices lower than they have been for some time, anyone considering investing in a property to rent out, or increasing their letting portfolio, could benefit significantly from the current market conditions.

“There are some excellent opportunities around now for those in a position to buy, and of course any purchases under £175,000 will benefit from the stamp duty holiday that is now in place. Most one and two bedroom flats will fall into this category, and these are still very much in demand among people looking for rented accommodation.”

With 37 branches across the South East, Leaders have thousands of applicants registering with them each month looking for good quality, well-presented accommodation, particularly one and two bedroom flats in town centre locations. Many are choosing to rent as they are unable to secure a mortgage in the current economic climate; some are renting while they wait for house prices to stabilise; and a large number prefer to rent as it offers the flexibility and convenience they require for their work and lifestyle.

Whilst there are many opportunities around - both for a favourable purchase price and a good rental income - landlords should still take care before buying to let, say Leaders. They should always seek detailed advice from an independent specialist – NOT the agent selling the property - on exactly what property types and locations are most in demand in order to make sure they choose the right property for their investment.

“Rental demand varies from town to town and even from road to road,” says Paul. “You need a local letting expert who knows exactly what is happening in your market to advise you when considering buying a property to let. Letting can be a minefield when you consider the knowledge required and the legislation involved with doing it properly, however it is actually very simple when you have the help of a professional letting specialist.

“An independent professional will help you make the right decisions and guide you on everything that is involved with letting and being a landlord. The right property in the right place will let very quickly; and if you can buy it at the right price you are well on your way to a successful investment.”