Buy to Let Newcomer Research
Published / Last Updated on 24/09/2008
Buy to Let Newcomer Research
The National Landlords Association (NLA) are warning buy-to-let virgins not to underestimate their responsibilities when it comes to letting out property. A spokesman from the NLA says, “Many customers are becoming landlords because they can’t sell their properties but this is not easy money. Things can come unstuck quickly if landlords haven’t sorted out deposit protection and ensured they are renting their properties for the correct amount”.
The Royal Institute of Chartered Surveyors (RICS) says it has seen a 47 per cent rise in instructions to let flats and a 39 per cent increase in instructions to let houses from Q1 2008 to Q2. A spokesman for RICS says “The lettings market is booming, with many vendors opting to rent out their properties as sales dry up”.
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