If you’re thinking of trying your hand at becoming a landlord, now could be a great time according to a recent article from thisismoney . Solid availability for buy-to-let mortgage deals, low interest rates and rising rents are apparently contributing to a new buy-to-let-boom. Of course, this is great news for those involved in the industry – everyone from specialist landlord insurers through to letting agents may benefit from this flurry of activity, but could you be benefitting too?
Speaking to the publication, Peter Gettins, of broker London & Country, said that buy-to-let was an “attractive prospect” but warned potential investors that they needed to do their research before joining the market.
“[P]rospective landlords need to go in with their eyes open and understand all the costs and risks. Even in a period of high demand, it’s important to understand the local market.”
If you are considering generating an extra income through property investment, or changing careers altogether and becoming a full-time landlord you can find information about the processes involved and your responsibilities with the National Landlords Association. As the leading association for private residential landlords in the UK they are well placed to provide advice about all the basics. See here for more.