Recent changes in the rental market has meant that Landlords have been considering the North for their next buy-to-let property investment. Measures including the introduction of the 3% stamp duty surcharge, new Right to Rent checks, the exclusion of the 10% 'wear and tear' tax and the rising number of licensing schemes have made life increasingly difficult for Landlords to invest in the South.
Increasing numbers of buy-to-let Landlords are looking to boost their rental profits by converting their properties into Houses in Multiple Occupation or HMOs. With Northern HMOs outperforming buy-to-let properties it is no wonder that Landlords are opting to convert their properties.
Landlords are always seeking new buy-to-let opportunities and new studies have demonstrated that the Northern cities host the most lucrative investment prospects, with lower purchasing costs in the North and high rental yields of between 6% and 12%.
If you own a property and are considering renting it to others, you can now take advantage of our free instant online valuation tool.
Read on to find out what is expected for the property market in 2017 as well as a look back at 2016.
A look ahead at what 2017 has in store for the UK's property market.
By minimising void periods, rental arrears and property damage, a recent survey shows that Letting Agents save Landlords up to Â£2,000 per year.
There are a number of factors that influence the tenant numbers in local rental markets and it is becoming increasingly important for buy-to-let Landlords to assess these before purchasing a rental property. The top ten factors in Leeds are:
The number of homes requiring a license is set to increase from 60,000 to 234,000 as the government announce plans for mandatory licensing of all shared homes in England. Currently certain properties are excluded from the licensing due to their configuration. For example, two storey buildings are excluded. These will now require a licence.
With temperatures set to plunge this month and the number of maintenance issues expected to soar, there has never been a better time to check your property is prepared for winter.
Ensure your property is winter-proofed and then sit back and relax over the Christmas period, safe in the knowledge that your tenants are safe and warm. Here are 5 ways to make sure your property is winter-ready.