Insurance News Archive
Investors should get help before entering buy-to-let market
Expertise is required to be successful in the buy-to-let market, it has been claimed.
Research by Paragon, the buy-to-let provider, has revealed rent is now at its highest ever recorded level.
High rental yields and tenant demand for rented accommodation is making the sector attractive for property investor, the firm said.
John Heron, managing director of Paragon, said the struggle facing first-time buyers is tempting more people to rent, but urged landlords to take care before letting.
He continued: "Casual landlords need to ensure they do their sums properly, account for all costs and know the laws and legislation around renting property.
"A number of new reforms have been introduced in recent years … and not complying with these could leave landlords seriously out of pocket."
The Royal Institute of Chartered Surveyors revealed yesterday that increasing numbers of investors are choosing to rent out property rather than sell.
Landlords are reaping the rewards of the collapse in demand in the housing market, the institute said.
23 May 2008
