Landlords increasing their buy to let portfolios

According to ARLA, the Association of Residential Letting Agents, around 16% of letting agents reported buy to let landlords  increased their number of rental properties in the last quarter.

This compares to only 8% reporting an increase in buy to let portfolios in the first quarter of this year.

It seems investment landlords are now stepping in to take advantage of very low interest rates and the sustained drop in house prices which may have now reached a bottom in the UK.

It’s been a tough time for landlords recently though and it should still be remembered that there has been a steady decline in rental prices as more houses are on the market than are in demand.

There are many ‘accidental landlords’ who have turned to letting their property as they have been unable to sell it as a result of the poor housing market conditions.

According to ARLA, the average rent was £1,682 at the start of this year but it now stands at £1,570.

If you are a landlord or are about to become one, be aware that with the growing risk of unemployment, tenants could face financial difficulty which could make it difficult for some to pay their monthly rent.

There’s also the question of landlords insurance which you might like to consider to cover your rental property, tenant and your liability in case the tenant or their guests get hurt and it can be shown you as the landlord have been negligent in any way.

You can get a landlords insurance quote online in just a couple of minutes. You can then quickly and easily see how much it would cost to protect yourself.