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18/05/2009
Buy-to-let 'will adjust to changing situation' |
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The buy-to-let sector of the property market will adjust to the changes that have taken place in the economic climate, it has been stated.
Commenting on a Nottingham University report on the future of the industry, National Landlords Association (NLA) spokesman Steve Hilton stated that the sector is "fundamentally sound" and that investors will be "flexible" enough to deal with changing circumstances.
Mr Hilton noted that residential rental property investment is something the NLA regards as a long-term project, remarking: "We discourage those looking for a 'quick buck' to see renting property as some kind of cash cow."
Those looking to invest in property may wish to speak to a solicitor to cover the various legal aspects of becoming a landlord and fulfilling the duties and obligations this involves.
Nottingham's report, entitled 'We all Live in a Robbie Fowler House' - a reference to the footballer-turned-property investor - concluded that buy-to-let is firmly established and a return to the 20th century pattern of consistently rising homeownership is not on the cards.
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