Why Become a Landlord? With the sales market struggling in recent - TopicsExpress



          

Why Become a Landlord? With the sales market struggling in recent times, now is an ideal time to become a landlord. If you are thinking of letting your property, here are our five reasons why becoming a landlord could be beneficial to you:- 1) Let someone else pay your mortgage! According to Zoopla, the average rent in Bradford is £545 PCM and the average rent in Leeds is £734 PCM. This is much higher than the average mortgage and by renting your property, someone else will be covering your monthly mortgage payment with maybe the possibility of you making a profit and pocketing the difference. 2) Can’t sell? There are currently 749 properties being advertised on Zoopla in Bradford and 1489 in Leeds but many estate agents are reporting that home owners are struggling to sell with many properties being marketed for over month. However, rental properties are being snapped up quickly and rents have increased. Why not rent your property rather than it being empty and therefore obtain an income on your asset? 3) Lending is down – Since 2008, it has been very difficult to obtain a mortgage with many banks asking for huge deposits. Many people, especially first time-buyers, simply cannot afford to buy and are therefore opting to rent long-term. There has therefore been an increase in demand for rental properties resulting in increased rents. Now is a great time to become a landlord. 4) You retain your capital asset – Not only will you receive income on a monthly basis from the rent, but you will retain your capital asset which, depending on the market, should increase in value over time. You will therefore have a long term investment as well as monthly income. 5) Capitalise on a great location– Leeds & Bradford is densely populated by young working professionals in the city centre and also a large population of students in the surrounding areas. Leeds & Bradford is also on the commuter belt with many people working. The Bradford rental market is very transient with a constant new supply of renters looking for property. Rents are also a lot higher with the average rent in Bradford. It is therefore an ideal area to become a landlord. If you are considering become a landlord and renting a property, feel free to give us a call on 01274 484834 for free advice.
Posted on: Tue, 03 Sep 2013 10:19:43 +0000

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