Rental demand in many parts of the UK has never been higher. Alloctae speaks to top experts to get tips on starting a buy-to-let empire.
New Year is about new challenges: gym memberships, diets and vows to stop smoking. The property market is full of challenges, too; prices around the country are set to remain flat or worse, with tentative improvements in the economy yet to filter down to homeowners.
This is why thousands of people have resolved to dive into the only housing sector that is truly booming: buy-to-let (BTL).
The rental industry’s figures show why BTL is set to be 2013’s favourite career change. Average UK rents have risen by 13.6 per cent since 2009, according to Right move, while capital values in most places have stagnated or fallen. The property website predicts another two per cent rise across the country this year.
And the proportion of UK households renting has increased in the past decade from 31 per cent to 36 per cent, according to the latest Census figures. This means that in parts of big cities (see box below), there is huge demand for rental properties. In Westminster, for example, four out of every 10 homes are privately rented, not owned.
Little wonder that Britons from all walks of life have recognised this sector as a sound investment even in troubled times.
In safe hands...
If you currently own or intend to purchase residential property for rental in South London, you should seriously consider our professional residential property management service. As we are specialists, we know how to manage property for optimum performance, whilst ensuring smooth running tenancies, and compliance with the various landlord/tenant laws. Whether you have a single property or a portfolio of properties with complicated management requirements our lettings team will assist you through the maze.
We offer various services, tailored to meet your individual needs whether you are a private landlord, an investment landlord or a corporate property company.
- Full Management 15% - Let and manage the property. With optional rent and legal protection.
- Rent Collection 12.5% - Let the property and accept the rent only. With optional rent and legal protection
- Tenant find only 10% - No management services included.