7
Mar
'Knowledge is power' in buy-to-let
Landlords should attempt to learn more about the industry,
according to new comments made by the chairman of the Residential
Landlords Association (RLA).
Investors this year ought to manage the properties they already
have, rather than consider expanding, to ensure that they are
compliant with all regulations, Lee Dribben argued.
They could "wait and see how the market develops" before making any
decisions about the future, he added, because licensing could
change.
Moreover, the RLA gives landlords assistance via training schemes,
Mr Dribben stated, something that may improve their knowledge of
the sector.
He commented: "Landlords need all the resources they can acquire as
they daily deal with a minefield of regulation and
legislation."
In the 12 months up until December last year, the average return
for a landlord in the buy-to-let sector was 16.3 per cent,
Birmingham Midshires has revealed. This figure was up from 13.5 per
cent the year before.