Help for non-professional landlords

RentID

Help for non-professional landlords

By RentiD Admin

It’s no secret that some landlords, particularly non-professional landlords are selling-up and exiting the private residential market.

Recent research indicates an 8% drop in numbers from their peak in 2017 with landlords owning a single property falling the fastest. No doubt this has been driven by the reduction in mortgage tax relief and the forthcoming abolition of Section 21.

Help for non-professional landlords

So if you’re a non-professional landlord considering exiting the market because you feel the costs, risk and hassle are getting out of hand – what would I recommend to get things under control again? Because after all, if institutional investors like pension funds are seeing the safer returns from letting property rather than playing the stock market, there’s still got to be plenty of value left in being a landlord.

Landlords need to secure lower prices for services, maintain good tenant relationships and do everything possible to mitigate risk so that income is consistent and unexpected costs are minimised.

That’s a lot to do and I understand perfectly that non-professional landlords don’t have a lot of time. However harnessing the latest wave of proptech, services on demand and rent guarantee products like those offered by RentiD can help non-professional and professional landlords alike to do more for themselves and keep costs and risk under control.

Share this