Market knowledge 'important' in current climate

News Category: Marketing

This article was brought to you by Rentman the premium rent management software.

Knowledge of local residential lettings markets is vital to making the most out of the current economic climate, it has been suggested.

The National Landlords Association (NLA) commented that landlords who operate their letting businesses professionally and do their homework on local markets are less likely to run into difficulties.

Some landlords are struggling to meet their buy-to-let mortgage repayments as rental arrears among tenants become more common amid the recession.

However, buy-to-let lender Paragon Mortgages believes investors with a long-term view who spend their cash wisely are benefitting in the current climate.

"Investors with cash to spend are finding they can pick up properties at bargain prices and achieve very attractive yields," the firm said.

The comments come after the impact of the credit crunch made it difficult for some first-time buyers (FTBs) to get on to the property ladder.

In the final quarter of 2008 some eight out of ten would-be FTBs switched to renting after they were unable to get a mortgage.

Find out more about letting agent software.