October 15, 2011
Buy To Let Landlords Enjoying Increase Of Tenant Influx
According to the results of a new report from Paragon Mortgages Ltd, just less than half of landlords have experienced an increase in tenant demand in the last quarter of 2011.
49% of buy to let landlords that they expected the increase in demand to remain strong, when asked for their predictions for the next year. 34% were also happy to report a staid state of affairs for rental income, while a small 4% thought that it had decreased.
11% of those to enjoy an increase in rents in the third quarter, stated that it was somewhere between 2 – 4%.
Paragon Chief Exec, Nigel Terrington said “Tenant demand has continued to increase for a third quarter, which is perhaps not surprising considering the current squeeze on the UK housing market as a whole.”
He went on to say “More people than ever before are relying on the private rented sector so it is positive to see that landlords are looking to invest in their portfolios and are also diversifying the types of property in which they are investing in order to meet tenant demand.”
The report also uncovered the interesting fact that one in ten buy to let landlords are advertising vacant lets via social media sites like Facebook and Twitter.
