Prospective landlords should make most of buyers market
Whilst the property outlook might seem bleak for some, prospective landlords should seize the opportunity now to make a good investment, says haart Residential Lettings agency.
Andrew Berry, Managing Director of haart Residential Lettings said: “It is definitely a buyers market at the moment. At the same time there is a huge demand for rental properties and this is increasing month by month. Rental income is rising and many more people are renting long-term. With property prices falling sellers are increasingly keen to sell their properties so now is a great time for those considering investing in a rental property to do so.”
Haart says that it is important prospective landlords undertake thorough research before making an investment. Said Andrew:“We are always happy to offer advice to prospective landlords as we have an in-depth knowledge of the market and can advise on how to avoid pitfalls We work very closely with our extensive estate agency network to achieve a one stop service.
“We suggest that landlords-to-be choose their location carefully and ensure the numbers add up as property is very much a long-term investment. They should definitely shop around and be prepared to haggle hard. Unlike other buyers they are not in a chain so this gives them a great advantage particularly in today’s market.”
Haart is part of Spicerhaart Residential Lettings Ltd which includes Felicity J. Lord, Darlows and Haybrook and is a bonded member of the Association of Residential Lettings Agents (ARLA).
Stephen Nation, Managing Director of Spicerhaart’s Professional Services Division says that bigger investors are also reaping benefits from falling property prices. He said: “It is not all doom and gloom on the property front. There are certainly individual and large institutional investors who are currently looking to invest millions of pounds in property portfolios for long-term gain.”
Andrew added: “For potential landlords and those looking to add to their property portfolio, this is a fantastic opportunity for them to invest and make the most of the booming rental market.”
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