Property letting tips | Landlords set to expand portfolios
New figures have revealed that up to 60 per cent of landlords are expecting to expand their property portfolios in the next six months. Mortgages for Business, the specialist mortgage broker, said that 84 per cent of those questioned were looking to increase their property to let by buying more flats and houses.
Broker expert David Whittaker said: “Landlord appetite for buying residential property is high. This will support the private rented sector and ease the strain on would be renters chasing too few properties.” He added that it was encouraging to see that figure for the number of landlords looking to reduce their properties fell from last year, with 2011’s 6 per cent dropping to 3 per cent in 2012. Polling 159 investors, Mortgages for Business also said that landlords are increasingly buying complex rental properties because the rental yields are higher. Of those asked, 25 per cent of individuals noted that semi-commercial or multi-units would bring them more income.
For those with large property portfolios, using a management agent such as Charlton Grace in Basingstoke will help keep houses and flats under control with minimal hassle and effort. Having a management agent allows landlords to sit back and watch their income swell, whilst agents deal with the day-to-day necessities of running rental properties. For those looking to expand their portfolio in 2012, utilising an agent to run their properties will offer more time and less stress.
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