As a landlord, it is helpful to have a priority or priorities with the role. There are so many tasks associated with being a landlord, and many worthwhile goals, it is often difficult for landlords to remain focused.
At Just Lets Peterborough, we are more than happy to provide you with focused service and support, helping you to manage your rental property. We have worked with many landlords in the local area, so we have a strong idea about what tenants and landlords want.
We also stay in touch with the latest studies in the housing market. This helps us to help you make an informed decision.
Are higher rents your main goal as a landlord?
It is interesting to note that many landlords, according to a recent study, don’t place higher rents as a priority. Actually, these landlords seem happy to accept a lower level of rental income each month if it provides them with better long-term outcomes.
This is always something to consider as a landlord, sometimes, securing a better long-term return is more appealing than short-term gains. If you are unsure of which approach is right for you, we are more than happy to assist you.
What do you want to achieve in the next year as a landlord?
Research commissioned by MFS, and which spoke to more than 500 landlords, offers insight into how landlords reacted to the pandemic.
Some of the key findings of the study include:
- 65% of respondents allowed tenants to be flexible on payments
- 80% of respondents say they would accept lower rents if it allowed them to enjoy a better or longer-term tenant
- 55% of respondents intend to increase rents in the next year
- 60% of landlords said the stamp duty holiday led to the housing market becoming “too chaotic”
- 38% of respondents bought an additional property between July 2020 and September 2021
- 32% of respondents attempted to buy an additional property at this time, but failed to do so
MFS chief executive Paresh Raja says: “It is positive to see that a healthy majority of UK landlords have allowed their tenants flexibility in making payments during this period. It is also telling that while rent increases invariably lie ahead, there is a clear appetite among landlords to secure reliable, long-term tenants – they are willing to drop rents in order to do so. Our research underlines that, despite some speculation to the contrary, the buy-to-let market has lasting appeal.”
Paresh Raja continued by saying; “Tax reforms and new regulations introduced over the past five years have affected landlords as the government has sought to gain better control over the private rental sector, but as an asset class, UK investors are evidently still gravitating towards buy-to-let properties in huge numbers.”
Just Lets – Here to Help
If you are a landlord in or around Peterborough, and you need assistance in managing your rental property, we can help. We know these are challenging times for landlords, but there is a demand for rental property. When you need guidance in the local market, contact Just Lets Peterborough today, and we will be happy to help you.
You can find Just Lets Peterborough at 142 Oundle Road, Peterborough, Cambridgeshire, PE2 9PJ. Feel free to email us at firstname.lastname@example.org or call us today on 01733 346255.