Landlords advised to 'keep calm' during recession

Posted: 23 Mar 2009 12:29:25 GMT

UK landlords should aim to keep a level head during the recession and find ways of remaining competitive players in the market.

That is the advice of David Salusbury, chairman of the National Landlords Association (NLA), who has urged landlords to "keep calm and carry on".

Mr Salusbury asserted that while landlords could face financial problems as rents fall, they should examine their property portfolios and see how they can continue to attract tenants.

He made his comments during an interview for the most recent edition of UK Landlord.

Mr Salusbury explained: "Landlords ... should do what prudent business people do and review their lettings with a view to maintaining their competitive edge.

"Reducing property prices mean that portfolio landlords should find opportunities to expand their portfolios if they have funding streams in place."

Mr Salusbury went on to say that because property prices are falling, some landlords could find that they are able to expand their portfolios during the recession.

The recent lettings survey from the Royal Institute of Chartered Surveyors, published last week, revealed that an oversupply of rental properties has caused UK rents to fall considerably.

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