Speaking in the latest edition of UK Landlord, Mr Salusbury reiterated the need for landlords not to over-extend themselves financially. Although he confirmed rental demand remains high, he also admitted arrears are an increasing problem and rents have fallen. But at the top of every landlord’s mind must be the need to maintain a competitive edge.
Mr Salusbury commented: “Landlords need to review their property portfolios, look at how they find tenants, the facilities they provide, and whether they can make their rents more competitive. They should do what prudent business people do and review their lettings with a view to maintaining their competitive edge.”
He went on to say: “Reducing property prices mean that portfolio landlords should find opportunities to expand their portfolios if they have funding streams in place.”
Although the number of available buy-to-let mortgage products has reduced significantly, the deals that remain are as competitive as they have ever been. The key difference has been the tightening of lending criteria with banks favouring the more experienced and larger landlords.
