How landlords can get more from their property
Landlords with buy to let insurance have seen the rents they receive increase significantly over the past two years.
This is due to the unprecedented demand for rented property – combined with a shortage of stock.
With “gazumping” becoming common in many parts of the UK, landlords could be forgiven for getting complacent.
And in this climate it is easy to think “why bother” when considering any changes to the property landlords rent out.
But landlords could, in fact, generate even greater returns from their investment by sprucing it up and giving it a makeover.
As with people selling property, landlords can attract a premium by offering better quality accommodation, no matter the relative strength or weakness of the market.
Student landlords, in particular, might well consider the options here.
From next year the sector is likely to be turned on its head as students are hit hard by tuition fee increases which are likely to put off many people from studying.
Student landlords may need to think seriously about changing the type of accommodation they rent to attract other tenants such as young professionals, who will be more demanding when it comes to what is on offer.
Whatever you do with your property, don’t forget to get covered with landlord insurance.