It was reported this week that the number of part time landlords is at an all time high. 70% of all current landlords are supplementing a day job with rental income – the highest this number has ever been. Property is currently a very popular investment, with many buyers choosing to invest in housing to make money for their retirement, or simply to bring in a little extra money every month. In fact, one fifth of these part time landlords also plan to expand their portfolio and take on another property in the next year, demonstrating the optimism currently surrounding property as an investment.
However, there are worries from the National Landlord Association that too many property investors are running before they can walk. Because of the numerous advantages of property investment, there is concern that too many people may be jumping on the bandwagon without researching the practicalities of investing in property alongside working a 9-5 job. Investors who are new to the sector may not be aware of the time and energy that being a landlord can require – keeping tenants happy and maintaining a property requires commitment, which may be difficult for those with a taxing day job.
Carolyn Uphill (Chairman of NLA) has stated that, “it can be a very challenging task to keep on top of managing and maintaining homes for people whilst juggling demands of daily life” and that it is essential that an investment is thoroughly considered beforehand. However, she is keen to emphasise how rewarding being a landlord can be, if done properly.
This is where armchair and merchant deals can help. When you invest with Mistoria Group, you have a number of teams at your disposal who can help you in all areas of your investment. We offer a full compliment of services so you can sit back and enjoy your investment with minimum input. Our Renovations, Furnishing and Maintenance team will ensure your property is in the best possible shape, our Spotless branch will keep it clean, and our Lettings team will take care of renting out the property to responsible paying tenants.
If you want to join 70% of landlords, and enjoy the benefits of an investment property alongside your full-time job, contact Mistoria Group. We have a number of different investment deals in the some of the North West’s most popular cities – click here to learn more. Give us a call on 0800 500 3015 or send us a message through our contact page.