Landlords 'in for long haul'
Rental property is often held and developed over longer periods by landlords, according to housing specialists.
Landlord advisory site PropertyHawk indicated that rental property-seekers in London and elsewhere were likely to find flats and houses that have been developed over long periods by landlords who wish to make the most of their investments.
The site claimed that a quick buy and sell made little sense for landlords, given the burden of solicitors' fees, Estate Agents' fees and capital gains tax - making it more attractive to improve and develop existing long-hold properties.
Chris Horne, editor of the website, said: "I think most landlords, because of the costs of buying and selling now, particularly with stamp duty rates going up, see residential investment as a long-term hold.
"A lot of landlords buy buy-to-let properties for their pensions, so it's a much more long-term investment."
He added that landlords were often active at times of uncertainty in the property market, as they were often willing to risk taking a property off a distressed seller and improving it before finding tenants.
Published 4th February, 2008
© 2008 Estates IT Limited
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Rental property is often held and developed over longer periods by landlords, according to housing specialists.