Landlords consider rental 'long-term investment'
For most landlords renting out accommodation is not a full time profession, but the majority consider it an important investment and one they will view with a long-term perspective, according to Alliance & Leicester.
The group's new annual Landlord Index revealed that nearly nine out of ten (87 per cent) landlords consider renting out properties as a profitable pastime rather than a full-time profession, but a full 57 per cent thought of it a long-term investment that would build up assets for the future.
A firmer commitment to rental properties could benefit tenants, who will see their properties maintained and modernised with a view to retaining their value and keeping tenants happy.
Stephen Leonard, director of mortgages at Alliance & Leicester, said: "It is encouraging to see landlords taking a measured, long-term approach to their buy-to-let investments.
"Releasing the equity built up in a rental property over a number of years could provide a crucial lump sum to cover future needs, like university fees, helping their children onto the property ladder, or even acting as an alternative pension pot."
He added that whatever the landlord's intentions for spending the equity, the general trend is toward buy-to-let investment remaining a solid and important part of the UK housing market, signalling good news for those hoping to rent in London and elsewhere.
Published 14th January, 2008
© 2008 Estates IT Limited
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For most landlords renting out accommodation is not a full time profession, but the majority consider it an important investment and one they will view with a long-term perspective, according to Alliance & Leicester.