This week there’s been some good news for Landlords – Property Wire has reported that 70% of today’s renters have absolutely no plans at all to buy a property – that equates to about 12 million adults who will be looking for homes to rent for the rest of their lives. If you were wondering if it would be worth investing in property now, the answer is probably yes!
It’s not just about affordability, about 22% of current renters just don’t want the financial commitment that comes with purchasing their own home. They want the flexibility to move for work, schools or family commitments and renting gives them just that. Others may have needed to sell a property after the breakdown of a relationship and don’t want to get back on the property ladder. We’re seeing more older renters now than ever before as some sell up to release equity and simply live off the proceeds of their home.
As there is a growing demand for properties to rent, legislation and regulation needs to be improved to protect tenants. The Government has made changes to legislation and introduced tougher controls and regulations. The most recent changes have meant that landlords have stringent guidelines which they must adhere to so that the health and wellbeing of their tenants is protected. Landlords must also ensure that their properties are properly insured for their own protection as well as their tenants.
Belvoir regularly host information evenings for current and potential landlords – if you would like to find out more, please come and speak to us or give us a call. We’ll talk through the different options available to you and help you with advice on how to prepare your finances in order to obtain a mortgage. We have guest speakers and experts so that you can rely on the information you are given and ensure that you look at all angles before you make a final decision.
We have properties to buy and to rent so whatever your property requirements, we’re here to help. Have a look at the properties we have for sale here…