Landlords warned to 'know their market'

Posted: 27 Jun 2008 13:21:14 GMT

In an increasingly competitive environment it is important that landlords "know their market" to attract the most suitable tenant for their property.

In an increasingly competitive environment it is important that landlords "know their market" to attract the most suitable tenant for their property.

That is the advice being given to buy-to-let investors by the National Landlords Association (NLA) which has said that furnishing a property needn't be a costly exercise.

Simon Gordon, head of communications at the NLA, said: "It is important that landlords know their market however. For example a landlord letting his or her property to young professionals in London may find that putting computer desks and a broadband connection in the property attracts tenants but this may not be the case elsewhere."

According to Mr Gordon, making small changes such as painting walls can make a big difference to a property's "rentability" and will attract more tenants.

The Private Landlords Survey in 2006 found that just three per cent of rental properties were rated as poor or very poor.

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