Is there a better time to be a landlord?
Average rent arrears are down as are void periods. Buy to let rates are at their lowest rates and eight out of ten landlords claim to be making a profitable income. So it’s no wonder why many are planning on expanding their rental portfolio.
According to figures average rent arrears now stand at £1499. This is a three-year low. 34 per cent of landlords have reported a void period in the last three months. That’s a fall of 2 per cent. The length of void periods has also declined by five days.
This is despite reports that tenant demand is at its lowest level for three years.
Rob Denman, Head of GW LET, comments:
“Everything is going in the right direction and that’s great news for landlords especially as there were predictions that a rejuvenated first time buyer market may put a spoke in the private rental wheel.
“There’s further good news for landlords who are looking at expanding their portfolio, particularly if they need to remortgage first, as they can get 25% off our property services^ by signing up for our loyalty scheme, Premier Client Club (PCC).
“During your first transaction with us – for example a remortgage – you will have the option to become a PCC member. Then, when it comes to your new purchase, you’ll be entitled to a 25% discount^.”
^Excludes VAT and disbursements.
Content correct at time of publication