Why it's such a good time to be a landlord with The Letting People
The rental market is seems to be almost recession proof as a growing number of people cannot afford to buy their own home. Here are some recent key facts:
- The latest census results show that from 2001 to 2011 the proportion of UK households in the private rented sector has risen from 12% to 18% (1)
- 9% of tenants prefer the flexibility of renting and a further 9% say they can afford to rent properties they could not buy (2)
- Property investors are coming back into the market and buy-to-let continues to be a safe investment with property prices almost stagnant, interest rates remaining low, and average annual total returns of 6.4% expected over the next 5 years (3)
- Additionally, the latest figures from Rightmove (the UK’s number one property website) show that UK rents have risen by 13.6% since 2009, and they predict a further increase in rents of 2% in 2013.
- Rightmove also found that 24% of tenants said they expect to become a landlord in the future, and 9% of tenants said they are a landlord already actively renting out a property
(1) Guardian article by Tom Smith, January 2013
(2) National Landlords Association, May 2012
(3) Sunday Times article by Anna Mikhailova, November 2012
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Thank you for promptly installing a new tenant.The flat was inspected before the tenant moved in and nothing needed to be done as all had been cleaned by the previous tenant.
You have all done very well ! Mr R, Landlord