Active participation expected from future buy-to-let landlords

Posted under General by Alan

On the buy-to-let property reaching the one million mark, Birmingham Midshires surveyed several would-be landlords across the UK as how they would treat their tenants. The answer was that they would use the “hands-on” approach. Eighty-eight per cent said they would drive past the property to check how the tenants were treating it.

Fifty four per cent of future landlords feel that looks are everything. They would choose tenants based on their appearance and advice tenants to smarten up if they want to rent a property of their choice.

Majority of future buy-to-letters would rather look after the property themselves than pay fees to an agent to do so. Thirty-five percent would prefer fixing any problem themselves instead of hiring services of a professional. A report reveals that landlords will play an active role in making sure their property is protected and well looked after.

While the would-be landlords viewed the attitude of tenants in rented property warily, ninety-three retired couples said they would treat the rented property as their own and would look after it well.

In 2007, landlords enjoyed an average of 16.3 percent return. Buy-to-let remains a wise long-term investment and the demand for rental property should continue for time some to come.