Tough new regulations and tax changes have led to a degree of unpopularity of the sector with investors. We have witnessed a major sell-off, with small landlords quitting the market to the tune of an estimated 4000 properties a month. But if you are a cash buyer, and you can hold your nerve, it could now be a good time to buy.
There is plenty of demand out there for rental property and rental levels are being sustained in most parts of the country. So where to start looking? New research looking at the best places to invest in buy-to-let property based on rental yields, shows that Scotland is currently leading the field, with rental returns in Glasgow lookimg positive. The next best three places with good returns are in Midlothian, East Ayshire and West Dunbartonshire. If you are thinking of taking the plunge, it always pays to do your homework
The days of landlords needing to live close by to their rentals are over. With the advent of PropTech, such as our PlanetRent app, making it far easier to manage your properties remotely. We have connected with partners across the UK to help them manage their properties awherever they maybe. This technology enables investors to search the market for the best returns. Don’t forget there are other factors that impact local rental markets. These include any major developments that are planned or new infrastructure in the pipeline, as well as the renter’s availability and profile in that area. If you are looking in an area with a high student population, investing in a house split into flats close to a university will likely offer better gross returns than a large family home in a high end location. Whether or not your property will hold its value long-term is another question and one that may be tricky to second-guess. That's why it is sensible to get professional advice from a qualified and reputable property agent.
You should also look for a good mortgage broker, if you need to borrow money, and a reliable accountant to ensure that your BTL income is as tax efficient as possible. There are also often genuine BTL bargains to be found at auction but you must make sure that you fully understand the way in which this sector operates. Purchasers buying rental property at auction can avoid the long-drawn-out conveyancing process, as properties are sold immediately the hammer falls, with completion generally 28 days later. But buyers must do their own due diligence. They also need to make financial arrangements in advance. A deposit of at lest 10% of the purchase price, plus an auctioneer's fee, must be ready for payment when the contracts are signed and they must have access to the remaining balance within those 28 days. Don't forget, there is more to buying property this way than simply turning up and making a bid.
Mary-Anne Bowring FIRPM FRICS FARLA FCABE Founder/Head of Asset Management
Strategic partnerships, holistic delivery/ opportunities, growth, value engineering, thought leadership
Ian Barber MD BTR Mobilisation & Leasing
Runs HQ & site lease-up teams. Drives rent pricing, mobilisation, marketing, happy residents!
Jon Curtis MRICS Head of Building Engineering
Chartered Building Surveyor. Lectures on EWS1 & building safety. Runs CapEx programmes.
Kate Robinson MIRPM MD Blocks/FM Management (London Region)
Master plan setup, ops and staffing and resident engagement. ISO45001 champion.
Lee Harle Partner Ringley Law
Plot conveyancing. Debt litigation. Group Company Secretary.
Anthony Kingdon MIRPM AssocRICS MD Blocks/FM Management (North Region)
Stakeholder engagement. Mixed tenure specialist. Budget management. Plant audit, PPM compliance.
Chris Georgalis MRICS Head of Commercial Valuation
Chartered Valuer. Rental valuations: retail, leisure. IRR modelling and valuations for secured lending. Compulsory purchase & rent reviews
Nichola Pughe MRICS Head of Residential Valuation
Chartered Valuer. Rental development & mixed use valuations, IRR modelling. Leasehold enfranchisement specialist
Libby Chen MSc Compliance Manager
Operational Plant & Equipment strategy PPM Compliance lead, Asset tagging Client major projects
Dipesh Parekh Director PlanetRent
Customer centric, vertically integrated PropTech/fin-tech solutions.
Leana Aristodemou MIRPM MARLA AssocRICS Strategic lead: ESG & Asset Business Plan delivery
Financial modelling, valuation analyst to support underwriting & fund reporting.
Natalie Birmingham Helpdesk Support Manager
Trainer & Helpdesk Manager: people, systems,contractors. ISO45001 supply chain accreditation.
Steve Norman Planning Director
Land due diligence (opportunities & constraints) Has contributed to a number of award winning schemes.