Insurance News Archive

Buy-to-let is 'very competitive'

There is currently fierce competition within the buy-to-let sector, it has been suggested.

Paul Shamplina, a founder partner of Landlord Action, commented at a recent industry event the market is "dog-eat-dog".

He told visitors at Birmingham's Landlord and Buy-to-Let Show there are more people purchasing property in order to rent it out.

Mr Shamplina said there is increasing competition in large cities, such as Birmingham and Manchester.

He went on to say landlords should be "methodical" and make sure they do not rush into buys.

The expert added: "The main thing is to manage it properly and if you have a letting agent make sure that they fully reference properly."

In related news, the Association of Residential Letting Agents' quarterly figures, which were released in September, found there had been a rise of almost 20 per cent in the number of new tenants in the three months up to the end of August.

27 Nov 2008