UK Landlords are continuing to feel confident about the prospects of their rental properties , according to a recent survey completed by the National Landlords Association, with the vast majority of Landlords rating prospects as ‘Good’ or ‘Very good’ in the short term at least. These results are encouraged by lenders making more Buy-to-Let rates available for borrowers and the sheer demand of tenants currently. In Leeds alone, tenants have often found themselves competing with other prospective tenants for properties and letting agents receiving more than 1 application on the same property in the same day.

Natalie Evans, Property Manager at Go Lettings, Leeds, said of the results, “It’s unsurprising that Landlords feel they’re in a strong position in terms of letting their property at the moment. In terms of volume of enquiries, it has been consistently high for a significant period of time and when a property that has been well furnished and looked after, becomes available, you know that it’s not going to be around long and that there’s every chance you’ll get tenants fighting over it! A tenant recently called me and said she wanted a property so much that she had waited 6 months and were calling to see if the current tenant was moving out so she could get in there first! I can’t see any let up anytime soon.”

As evidence of this Landlord positivity, Haart Financial Services have seen the demand for Buy-to-Let mortgages increase to 16.8% , in comparison to 10.9% at the start of the year, meaning Buy-to-Lets account for 1 in 5 of all mortgages currently. All good letting agents would advise that people do their homework before jumping in as a property investor though, as it’s by no means a guaranteed business. Judging by current demand though, and the sustained growth of companies like GO Lettings over the past few years, it’s also not without potential.

 

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