A recent survey for Natwest has found that 38% of landlords were feeling positive about the future, but what factors are influencing the rental market at the moment and what does this mean for the industry?
There have been many changes to the rental market recently, especially the increase in long-term tenants and the introduction of further regulations. Holiday letting on popular platforms such as Airbnb are also seen as a factor, potentially providing an income for landlords in tourist areas. However, they also mean a much higher management input on fast moving tenants, which can be a challenge and extra cost. It is a different business model to traditional buy-to-let, akin to running a hotel or B&B.
How do you advertise your rental property?
Technology is also a big factor in the changing buy-to-let industry. The survey shows that tenants are more inclined to look online than landlords, with 37% finding their current property on a website or app. Only 25% of landlords advertise online.
Landlords may need to look at advertising their properties through portals such as Rightmove and with letting agents that use social media to get the most reach in their area.
Flatmans uses Rightmove to increase our reach to potential tenants, as well as having prolific and popular social media accounts such as our Twitter and Instagram accounts. We also have outstanding buy-to-let services that offer great benefits to landlords.
“As a first time investor I approached The Flatman Partnership looking for an investment property with a good rental yield. They found me fantastic property quickly and secured a good professional tenant to move in after completion. The service offered was completely seamless and very efficient.” Peter
The survey also found that
- A Buy to Let mortgage is the most common way landlords buy their first rental property
- Just over two fifths (41%) of landlords are keen investors, deciding to get into renting for investment purposes
- Nearly two fifths of landlords want to buy new properties for rental in the future
- 20% of landlords say that renting properties is their main source of income across the UK, although that figure jumps to 35% in London.