Given the recent turmoil in the world of mortgages and the property market you may assume that now isn’t the time to invest in a furnished buy to let property and let out to tenants, but that isn’t necessarily the case.

Actually there’s plenty of reasons why, if your circumstances are right, it might be a good time to buy.

It’s harder than ever to get a mortgage – That’s good news for the rental market; the harder it is for first time buyers to get on the property ladder the more buoyant it is for landlords. The high levels of deposits required by mortgage lenders means that many people are remaining in rented accommodation despite the reductions in the cost of buying a home. This means if you do have the cash or equity for a deposit on a buy to let you can take advantage of the current situation.

The rental market hasn’t been flooded – The explosion in specific buy to let mortgages meant every man and his dog dabbled in property investment. This was good to bring new blood into the industry but it did mean in many towns and cities there was more property than there was really demand for which made it harder to keep your rental property occupied all year round. As many people have had to tighten their belt and sell their rental property you are more likely to have fewer people to compete against.

Property prices are the most affordable they’ve been in a decade – If you don’t already own a buy to let property, the fall in prices is great news. If you had to pay over the odds for a property in the past, it was much harder to make a good return on your investment without pricing yourself out of the market. The fall in prices gives you a bit more slack even if rental prices have remained fairly static in your area.

Maintenance costs are potentially more manageable – Lots of skilled workers are currently unemployed or not fully booked. That means if you need to purchase work from self employed craftsmen you may be able to pay a bit less than you would have a while ago or if the cost hasn’t changed there is a good chance you won’t need to wait as long as you did previously.

You can negotiate harder with letting agents – There are very few who have been hit harder by the property crash than the estate agents, many of whom provided letting services. They have had to look to the rental market to stay afloat. Shop around as you may be able to save significantly on letting agent fees.

Like any major financial decision you should take plenty of advice but there are certainly some compelling arguments for why now isn’t as bad a time to invest in a buy to let property as some people may believe.

Most letting agents agree that furnished properties can help to maximise the likelihood of landlords increasing buy to let rental incomes.  So finding a reliable landlord furniture company can be invaluable in ensuring your buy to let property stays rented and your property investment delivers a good and regular return.

I remember the days when student digs were more Rising Damp than luxury loft apartments, but hey, things have moved on and now Manchester’s students are returning to luxury living quarters to lay their weary heads after a night on the booze (and a hard day’s studying?!)!

With Freshers flooding Fallowfied next week, it’s been a busy time for the Loft Interiors (Buy to Let Furnishings) team, helping landlords across the North West ensure their rental accommodation is tenant-ready, with fab furnishings that wouldn’t look out of place in photoshoot perfect penthouses.

Our ‘Refresh’ service has proved a hit this year, as we’ve heard stories of student tenants turning down year-old mattresses and walking away from properties if the desk doesn’t match the wardrobe! But at just £100 a pop for landlords to replace a double divan bed, and £150 buying a full bedroom set, it’s a small price to pay for investors to make their properties stand out from the crowd and attract the cream of the student tenant crop. (You know, the ones who might consider running the vacuum cleaner we provide in our Ready-to-Rent packs around the flat every so often!)

We’re glad to be doing our bit for parents too – as they can rest easy that their darlings aren’t returning to rat-infested digs, but more a home from home environment. And they can only hope that beautifully furnished and fitted rental accommodation will instil a smidgen of pride in their kids’ surroundings – so the washing up won’t pile up to Leaning Tower of Pisa proportions!

Who will be the best buy to let furniture supplier?

The Landlord & Buy-to-Let Awards aim to recognise and reward excellence, whilst contributing to raising standards in the private rented sector.

Hundreds of entries have been received and shortlists of entrants have now been compiled for each category, including… Buy to Let Furnishings in the Buy to Let Furniture / Furnishings category!

Landlord & Buy-to-Let magazine editor and lead judge for the Awards, Oliver Romain, commented: “We have been astounded but absolutely delighted with the number of entries received. It just goes to show what we have always said: there are some very high standards amongst private rented sector professionals and it’s about time that the work of the sector is rewarded.”

The awards will be taking place on Friday 16th October at the NEC in Birmingham. You can find out more about the other finalists by visiting the Landlord Show website.

]]> http://www.buytolet-furnishings.co.uk/blog/landlord-buy-to-let-awards-finalists/feed 1