Landlord, News, Property

1 In 4 Landlords Earn A Living From Rental Property

It seems that there has never been a better time to be a private landlord: tenant demand is up and predicted to rise even further; rents are increasing and yields are at their highest since the Landlords Panel research study began in 2006.

It is unsurprising therefore that more than one in four landlords are now making a living from letting their properties, according to recent research by BDRC Continental.

The research also found that a further 52% use rental properties to supplement their income, with 74% of those planning to use rental income to help fund their retirement.

Landlords stated that the opportunity to achieve a better return on property than investing in the stock market was a major factor in entering the buy-to-let market, along with the chance to make rental income their main source of income in the future.

It seems that optimism is in the air with 68% of landlords rating their capital gains and rental prospects as good or very good, compared with 60% in the third quarter of last year. This was found to be at the highest level since 2007.

John Heron, managing director of Paragon Mortgages, said: “Tenant demand for rental property remains strong, and with the mainstay of investment coming from private landlords, it is important for lenders to develop products that can underpin sustainable growth.”

Many of the landlords surveyed said they were looking to expand their portfolios, which is good news for buy-to-let mortgage providers and brokers. However it raises another issue when you consider that 63% agree ‘strongly’ that the buy-to-let market would benefit from greater competition. The industry cannot afford to have its key customers believing there’s too little competition in the market.

The research sounded a warning note for brokers and intermediaries: 21% of all landlords agree ‘strongly’ that they will approach a lender directly the next time they need funding. And meanwhile some lenders are moving in the direction of providing a more holistic service to landlords – e.g. educating them on legal obligations, marketing and how to become more profitable.

With tenant demand almost certainly set to increase into 2014, it seems inevitable that even more landlords will be able to make a living from their rental properties in the future. If you are a landlord or are thinking about investing in rental property in Bath, we would be more than happy to discuss any questions you have about this topic either in person or via Facebook or Twitter.

    
 
 
          Tracy Warren 
 
 
 
  Even though we didn’t end up renting a place through Reside, Chris and Lisa were so incredibly personable, helpful and welcoming.

Would highly recommend and will be heading there when ready to buy. 🎉
  
 
         eve mcculloch 
 
 
 
  The team at Reside could not have done more for me.  They supported me throughout the whole process when at times I probably drove them mad. I am now in a lovely home and it’s very much thanks to Lisa and Emma.
  
 
         Andy Moore 
 
 
 
  My experience with Chris Gray was just perfect. An incredibly friendly individual that really did go above and beyond to make sure I was taken care of. The whole experience was genuinely fun which says a lot for a process that can often be stressful! Don’t see myself moving again anytime soon but if I was to, I’d hope it’d be Chris helping me out again!
  
 
         Yoanna Iliadis 
 
 
 
  I am delighted with my experience with Reside! Lisa and Chris went out of their way to help throughout the process. Highly recommend x
  
 
         Niels Westberg 
 
 
 
  It has been a pleasure to have been able to do business with Reside Bath. Their people are highly efficient and utterly charming with it. I imagine that they can have few peers. I can recommend Reside Bath without reservation.
  
 
         Clod 
 
 
 
  Reside were my letting agents for five years and were fantastic. They always looked after me and my tenants and made renting my flat stress free. I’d recommend them as the first choice for letting. I then marketed my flat for sale with them and they were great again. It was a frustrating and long process through no fault of Reside or Lisa, my agent. Lisa kept me informed throughout and was a good listener when things got tough. Thanks for getting me there! Claire
  
 
         Mark Holton 
 
 
 
  Had great service from Lisa and the team at Reside, while exploring properties in Bath. We were delighted with the flat we found. The process from viewing to moving in was extremely smooth, with Lisa resolving any queries at pace along the way.
  
 
         yasmin kaye 
 
 
 
  Lisa at Reside has been absolutely amazing - we had a difficult rental search and she did everything she could to help us, finding us a wonderful flat. Recommend her and the team wholeheartedly!
  
 
         David Cox 
 
 
 
  Hello, and happy whatever day it is to you when you are reading this! ✨

My move to my new letting property with Reside was seamless. From the viewing, financials, help, and guidance, everything went through kindly, quickly, and with helpful attention. Chris, was especially helpful and I honestly felt prioritised as he could see how much the move meant to me due to being a dog owner. @Chris thank you again for everything, it really is much appreciated. ✨

Reside are instantly contactable and I cannot recommend them enough. I am a landlord myself, and I know the importance of such attention to detail and kindness. ✨

10 out of 10, cannot recommend enough! ✨✨✨✨✨✨✨
  
 
         Elizabeth Thornhill 
 
 
 
  I contacted Lisa at Reside last week and arranged rental viewings in Bath.  It was a seamless process from beginning to end.  Lisa was extremely helpful and informative about the city and if I hadn't had an offer accepted on a purchase a few days later, would certainly have taken one of the properties she showed.  Lisa was a breath of fresh air in addition to being professional and very knowledgeable about the local market.  I can't recommend Reside or Lisa more strongly.