Conditions 'never better' for long-term landlords

News Category: Industry News

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Market conditions for people who have been landlords for many years have never been better, it has been stated.

According to LettingZone, the whole property market is improving and experienced landlords may look to buy more properties over the next two or three years.

Managing director Mark Garner commented: "For existing professional landlords, it has never been better because interest rates are at an all-time low."

He explained that the only landlords who may be struggling financially are people who borrowed too much money and are unable to rent out their properties.

Using a letting agent may help these struggling landlords to find tenants for their houses.

Experienced landlords Fergus and Judith Wilson recently told the Guardian that they pay letting agents a ten per cent fee as they believe the service provides value for money.

Mr Garner was speaking after new figures from IVA.com showed there was a 53 per cent increase in the number of buy-to-let investors seeking debt advice in March.

Terry Balfour, a director at the website, described the buy-to-let sector as being in "meltdown".

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