When it comes to owning a buy-to let property, the decision as to whether to use an agent or not is a big one.
Huge shout out to Paul Shamplina for his excellent #bestadvice article in LandlordZONE!
The article refers to the fact that it is estimated that more than half of landlords self-manage their rental properties, believing it to be the best way to maintain control over who lives there and how well their #property is taken care of, whilst of course saving #money on management fees.
However, those who do not have that time or knowledge and believe they can ‘let and forget’, are at risk of missing vital steps at the start of the tenancy process in the #future.
Really interesting news from National Residential Landlords Association - NRLA over the weekend...
The demand for private rented housing has reached a five year high according to new research released by the National Residential Landlords Association following the easing of COVID restrictions.
39 per cent of private landlords confirmed that demand for 'homes to rent' had increased in the second quarter of 2021 – an 8% increase on the first quarter of the year.
This #data also reveals that demand has reached a five-year high! Is this #innovation?
Despite an overall increase in demand, the proportion of landlords intending to buy property has fallen from the four year high of 19% recorded in the first quarter of the year, to 14%.
Chris Norris (NRLA) said “It is clear that there is a significant flight of tenants from the capital in response to the COVID pandemic. With lockdown restrictions having ended, and offices beginning to reopen, the jury is out as to whether this trend will continue.”