Mar 2, 2012
Increasing demand for rental properties is creating a new investment opportunity for first time landlords, as figures from the Association of Residential Letting Agents (ARLA) show 55% of lettings agents believe demand for rental property is now outstripping supply.
Ian Potter, operations manager at ARLA – the regulatory body for letting agents in the UK – , said: “Investing in a buy-to-let property has always been an attractive opportunity, and the high demand for rented property means there are a growing number of first time landlords in the market.”
However, letting out a property can be a complicated and daunting process. So today ARLA has set out the essentials for all first time landlords on what they should consider before investing in a buy to let property.
Mr Potter said: “Making sure that your investment pays off takes hard work and commitment, but can be rewarding in the long term. If you’re a first time landlord, it’s crucial that you look for a licensed local agent to promote your property, and potentially also manage it.”