The experts at HomeLet have released a new property guide called Landlords Advice with Regional Relevance.
The property guide contains a selection of tips and sights from industry experts including Ryan Bembridge, Senior Reporter at Mortgage Introducer, Doug Hall from the Residential Landlords Association (RLA), as well as a selection of well-established landlords and journalists from the sector.
Property guide for landlords
HomeLet’s new guide is filled with expert commentary from those in the know. The guide is perfect for landlords and investors who want to further information about what’s going on in the market.
From Brexit to Stamp Duty tax changes, from the removal of landlords’ wear and tear allowance to cuts in tax relief on mortgage repayments, the UK’s property market has weathered many changes throughout the course of 2016.
Brexit may have been the main topic to hit the headlines however, Ryan Bembridge, Senior Reporter at Mortgage Introducer, believes that it’s not all doom and gloom.
“For all the pre-vote talk of a significant drop in house prices in the event of a Brexit, it seems unlikely, because there is still a lack of housing supply to meet demand and that hasn’t changed,” Bembridge explains.
“Savvy investors will see the vote as an opportunity, not a catastrophe, as they look to take advantage of nervousness about the economy to buy properties at a discount in cities like Manchester, Leeds, Liverpool and Cardiff.”
Rents continue to rise across the UK
Positive rental increases will be good news to landlords, especially to those who have been concerned about changes to the buy-to-let sector introduced by former Chancellor, George Osborne.
The latest HomeLet rental index has revealed that the average rental value across the UK (excluding greater London) was £779pcm in the 3 months to April 2016.
This figure represents a 2.3% rise when compared to the same period in the previous year. The report has also shown that rents increased in 9 out of 12 regions across the country.
Despite rents remaining stable, property expert Henry Pryor believes that landlords will benefit from securing reliable tenants rather than putting rents up in light of changes to the system.
“The market is tougher now than it was on 23rd June and there is a gap between what letting agents are asking and what some tenants are prepared to pay. A good reliable tenant, who pays on time and looks after your property, is worth more than the monthly rent,” Pryor explains.
Simply click through to their landlords insurance page to download the full guide.