Is it hard being a landlord?
As more and more people across the UK become landlords and start investing in buy-to-let property, many are wondering, is it hard being a landlord?
Due in part to the current uncertain economic situation, more are understanding the reality that UK property is one of the safest places to invest your money at the moment, and as such are looking for more opportunities.
We’re seeing more wealthy young investors coming to us looking for the right investment opportunities and, perhaps, their first investment property.
We offer a full service so we know that good advice is key to our clients being able to make an informed choice towards their investments and the right property for them.
One of the biggest issues many young investors anticipate is whether there will be a significant sacrifice of their time when getting into buy-to-let and, subsequently, becoming a landlord.
Is it hard being a landlord?
Broadly speaking you can be as involved as you like when investing in UK buy-to-let. Certainly, when we have investors approach us regarding our off-plan investments the vast majority go on to make arrangements with management companies that handle the day-to-day running of the property.
Day-to-day tasks that typically arise in this instance are maintenance issues such as water leaks, boiler problems or other small incidents as well as the ad hoc admin of renewing tenancies and paperwork involved.
Theoretically speaking, once you’ve invested in a property and signed the relevant paperwork you can take a very hands-off approach to the entire process if you wish.
Property management is surprisingly affordable and is often the norm for property investors with multiple properties across a portfolio.
It’s one of the main attractions of property investment in that you can acquire an asset that increases in value at a good rate, whilst also generating a strong and increasing passive income that requires very little, if any, effort on the part of the property owner. Especially when you consider that house prices are forecast to increase by 8.9% in the next five years in the UK and rents are set to rise by 15.9% in the same period (JLL).
There are types of investment that tend to require more involvement such as residential investment, as well as HMOs (Houses of Multiple Occupation) and holiday lets.
All in all, the question of whether it is hard work to be a landlord can be answered succinctly with “it’s as hard or as easy as you choose to make it”.
Invest in buy-to-let today with Knight Knox
At Knight Knox, we specialise in the sale of off-plan buy-to-let properties to private investors.
Whether you are a first-time investor or looking to build on an established portfolio, we are certain to have the perfect property for you.
