23 Jan

Flexibility the key, landlords advised

Flexibility the key, landlords advised

Landlords who are flexible will be better placed to have a good 2009 in the rental market, it has been stated.

Director of the Residential Landlords Association Chris Town stated that some will find this year "really tough", but those who plan the right way will be able to come through the economic downturn.

Noting that "there is generally a strong demand for rental property in most markets", he remarked that "local knowledge is key to making the most of opportunities".

He concluded: "Generally, landlords who are flexible will be okay."

The most recent survey trends may suggest that the majority of landlords are looking to ride out the downturn and hold onto their property for the long term.

December's survey by the Association of Residential Letting Agents for the fourth quarter of 2008 showed that the average period buy-to-let investors intend to hold onto their portfolios was 16.3 years, while one in five planned to do so for 20 years.

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