Are You Making a Living Out of Your Property?
It has become apparent that one in four landlords (28 per cent) can now make a living out of letting their property. This is followed by 52 per cent of landlords using their rental income to supplement their salaries, and 74 per cent planning to use their rental income to help fund their retirement. Whichever reason, landlords have recognised the rental market is strong and tenant demand is high, therefore investment in real estate appears as an obvious choice.
Although a substantial cost initially to purchase a property, in the long run the benefits reaped are far greater and can outway the initial payments. Letting your property can give you a regular income that you are able to rely on; it provides a lifeline in financial security in later life.
Many believe property investment can deliver a better return than investing in the stock market. It is extremely appealing for landlords to be able to rely on that income, or have the potential to rely on it in the future.
States from the BDRC Continental survey show 68 per cent of landlords rate the prospects for their own letting business as good or very good; it is the highest level since 2007. The survey also found that while yields were holding steady at around six per cent, an increasing proportion of landlords were enthusiastic about the prospects for capital gains.
So, can you make a living out of your property?
If you would like some advice on the current market or some information about letting your property, please call Kirsty on 0121 366 0458 or email [email protected]