You’ve reached the Experience Invest blog, where we report on all the latest UK property news you need to know. The National Landlords Association (NLA) has launched a new campaign to help landlords across the UK; here we report on its key features.
The NLA has launched a new scheme to help the UK’s landlord sector. According to an article on Property Wire, ‘Reinventing Renting’ is designed to identify opportunities for landlords to enhance their lettings business, so they can transform their rental investments into more profitable enterprises.
Reinventing Renting will provide landlords with useful resources, guides and presentations. These tools will cover a number of topics to support struggling landlords who are finding it hard to develop a profitable venture. This includes how to select the best investment opportunity, improve financial planning, grow portfolios and maximise gains. The scheme will also show landlords how to reduce exposure to a variety of risks associated with letting property, such as rogue tenants and rent arrears.
Key issues for landlords
Commenting on the launch of Reinventing Renting Carolyn Uphill, chairperson of the NLA, said: “Over the next few months, Reinventing Renting will look at some of the key issues for landlords and provide support and tips to improve the way they run their business.”
Elaborating, Uphill explained: “The campaign has something for both new and experienced landlords and will be particularly useful for those who are struggling to make things work or worried about how the changes to mortgage interest taxation will affect them in the future.”
Data from the Office for National Statistics shows that average UK house prices expanded by 6.1% in the year to September 2015. They grew at a more rapid rate, by 7%, year-on-year to October. Meanwhile, statistics from Home, a comprehensive property search portal, indicate that there was 47% less property for sale in December 2015 than in the same month in 2007.
High demand for a low supply of UK housing has boosted the nation’s rental market to new heights. The Telegraph reported that as of 2014, one in five homes in the UK were owned by landlords. Furthermore, this two-million strong army of landlords is set to reach three million by around 2019.
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