5 reasons why buy-to-let is getting a boost
Buy-to-let has always been seen as a safe long-term investment strategy but over the last few years, the landscape has changed dramatically. As we move our way through 2024, however, the buy-to-let benefits are once again aligning. Here are five reasons property investment should be on your radar this year.
What makes a good tenant in 2024?
On the outside, selecting a good tenant may feel as simple as accepting the person who makes the highest offer, especially if the most recent news is to be believed. A survey undertaken for the New Economics Foundation found tenants were willing to go to extreme financial lengths to secure a rental property. As a result, landlords have had the luxury of waiting for the ‘highest bidder’ to emerge.
Landlords! When was the last time you booked a rental valuation?
Rental demand still outstrips supply in the UK, and your property is unique, which is why it’s important to understand its true rental value. Average rents for new lets increased by 12.2% in the year to September 2023, and are expected to increase by 5–6% in 2024
Have you double-checked your tenancy agreement?
When you have found the perfect rental property for you, it can be very tempting to sign on that dotted line in a hurry..
Does 2024 hold a better future for landlords and tenants?
The rental market in the UK is going from strength to strength. Despite the negative news stories in the press, there is much to look forward to and celebrate as we enter another new year.
New electrical check guidance for landlords
The safety of tenants has become of paramount importance in the private rental sector, and rightly so. One of the areas that has been improved immeasurably is electrical safety and now new guidelines have been issued to provide greater consistency when it comes to checks.
Leasehold reform formally confirmed as a Bill
On 7th November 2023, the King’s Speech marked the opening of a new session of Parliament. In his first address of this nature, King Charles III announced the Government’s key priorities for the year ahead and with a General Election expected within the next 12 months, the contents were hotly anticipated.
What do landlords and tenants have in common?
The landlord-tenant relationship in the UK is often portrayed as strained in the media. Seen as one-sided often in favour of the landlord it’s sometimes justified. However, it’s always a few bad landlords who tarnish the reputation of many. The reality is that there are many great landlords letting beautiful properties, managed by reputable agents, who are changing the rental landscape for the better in the UK.
S21 eviction ban delayed before the Renters’ Reform Bill’s second reading
We have been charting the progress of the Renters’ Reform Bill since it was announced in 2019 during Theresa May’s tenure as Prime Minister. In late October 2023, a little more progress was made and the Bill had its second reading in the House of Commons.
Tenants’ most in-demand features revealed
The features we assume tenants are looking for and what actually ticks their boxes can be two very different things. To establish the most in-demand aspects, Rightmove examined more than 600,000 property listings, looking at what was mentioned in the property description in relation to the homes with the highest number of enquiries.
Why tenants are renting for longer?
A lot of things seem to be getting longer at this time of year – the evenings and the list of tenants looking for a property to rent. Tenants are renting for longer, which in turn brings longevity to the long-term investment prospects of the buy-to-let market! In the UK, 13 million people rent from a private landlord. This means the buy-to-let market is expanding all the time.*
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