- 23% of landlords plan to grow their property portfolios over the next year
- 61% of landlords are also very confident about the future for their rental businesses
- On average, a tenant will now rent the same property for over two and a half years
- 4 in 10 landlords have agreed new rental charges with their tenants in the last 12 months in comparison to 7% of landlords lowering rental charges
The survey also found that an average two-bed flat in central London now earns a landlord rent of £1,515 each month, over three times the £480 for the same property type in the North-East.
Paul Winstanley, partner at Allsop, said: “The demand for rented housing and the constraints on the wider housing market mean that rented housing is likely to retain the same income dynamics for the medium to long term. The rented sector is growing at such a rate that landlords will share in a secure and attractive return.”
If you are a landlord of property have you also considered your landlord insurance policy? It is a landlord’s legal responsibility for the safety of tenants and members of the public who visit the property and if a person is injured on your property or grounds as a result of negligence on your part then you could be sued for compensation.