No place for amateur landlords, says expert

Posted: 04 May 2010 10:42:33 GMT

There is no place for amateur landlords in the buy-to-let market, one expert has explained.

Speaking at the Avoid the Voids webinar, Alan Ward, chairman of the Residential Landlords Association, said everyone who owns a buy-to-let property needs to take a professional approach to their investment.

"It is not just about buying the property, getting the tenant in, sitting back and rolling in the money. You have got to look after that property and particularly the people who are in it," he explains.

Mr Ward advises landlords need to be aware that even if they pass on the renting of their property to an agent, they are still legally responsible.

His comments come following new figures from the Land Registry, which show that house prices have risen by 7.5 per cent in the past year, with the average asking price now standing at £164,288.

Similarly, property values in London have increased by 13 per cent over the past 12 months to £336,409.

© Houseladder Ltd