Letting agents and landlords are absorbing Labour’s latest policy on the private rental sector - to give councils the power to ban buy-to-let investors from buying new-build property in designated “housing growth areas”.
Only a week ago the papers were reporting how “Buy-to-let investors have had a bumper year” with data showing the average annual return for landlords was 12.7% before tax, mortgage repayments and maintenance costs were taken into account. There were even some new discounted mortgages aimed at buy-to-let landlords – 3.09% fixed for 2 years for example. All good it seems.
Is now a good time to invest in property, or are we in a property bubble that’s ready to pop? And are there better ways to invest anyway, with fewer headaches?
Arranging a tenancy takes time and time, as we all know, inevitably equals money. You have to expect to be hit with some fees when you take up a tenancy on a property, but any respectable letting agent will provide you with clear information about its charges before you sign anything.
If you’re a landlord then squeezing the maximum income from your rented property is of course important; you may be a professional/buy-to-let landlord who’s making a living from property, or maybe you’re just renting your home while you need to live elsewhere, and the rental income is helping to cover your costs there.
Professional letting agents have to look out for the interests of both their landlords and tenants, so being aware of the various responsibilities when renting a property is key to a better understanding of the process, and hopefully a pain-free rental.
Matching up landlords and prospective tenants has always been a bit hit and miss, as high street estate agents struggle to cater for variety of property markets. From their office in North Camp, the Newlife Lettings team are dedicated to focusing only on the lettings sector and thus are extremely successful at their task.
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