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According to a survey carried out by the National Landlords Association (NLA), 75% of landlords questioned said they would be likely to buy their next property in their local geographical area. A further 10% said they would consider buying a property within a 100-mile radius.
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Positive Results Say NLA
The NLA is pleased with the results as they say it shows that landlords are keen to invest in their local area. However, they still concerned that local authorities are hampering landlord investment by implementing costly and inefficient landlord licensing schemes.
NA Commentary
The NLA is one of the leading organisations for private residential landlords in the UK. They work with landlords of all sizes to help them run successful buy to let businesses.
Chairman of the NLA, Carolyn Uphill, says: “Local investment in housing is essential if towns and cities across the UK want to attract people and business to the area. The private rented sector (PRS) is growing at a steady rate but we still need further investment in housing if tenant demand across the UK is to be met.”
The NLA believes councils risk alienating local landlords with excess red tape, which will harm investment in the rental market and lead to a supply shortage of rental properties.
Property Investment Tips from the NLA
The NLA is offering new landlords tips on how to choose the right investment properties. They include the following questions you need to ask before investing in a property:
• What are rental yields like?
• What sort of tenants are you likely to attract?
• Is the location desirable for would-be tenants?
• What are the capital appreciation prospects?
