Industry body gives tips to landlords

Posted: 12 Aug 2008 11:08:55 GMT

Whilst many landlords are reaping the benefits of increasing demand for rental properties and high yields on properties, an industry body has issued advice on surviving the economic downturn.

The National Association of Landlords (NLA) has said that whilst demand for rented properties is high it is better to offer "slightly below market rate" to avoid being priced out of the market.

According to the NLA, research is key and it suggests landlords take the time to understand who they are renting to.

Understanding the target market and making sure the property fits their profile will reap rewards.

It advised landlords to speak to their lender if they are having trouble meeting repayments and added that those who are coming to the end of a deal should shop around.

Landlords need to be organised to avoid rental voids. The NLA advise getting long-term tenants and marketing a property as soon as the current tenants are planning to leave.

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