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11/11/2009
Landlords 'may need more help' |
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Landlords could be in need of extra help to cope with their financial difficulties after a survey revealed that the residential property sector is seeing a decline in letting prospects.
The study by Business Development Research Consultants (BDRC) of 500 private residential landlords showed that more than a quarter either only manage to break even or turn in a loss.
However, the study found, rental yield expectations are on the rise.
Remarking on this, BDRC director Mark Long said: "With 2009 characterised as a year of survival for many landlords, we are starting to see signs of a brighter future into 2010."
Those who may be experiencing difficulties as a landlord might wish to speak to a property lawyer about how they can tackle the situation.
One development that could benefit landlords is a proposed change in the way rents are paid to them on behalf of those on housing benefit.
Last month, editor of the LandlordZONE website Tom Entwistle welcomed news that the Conservatives would reintroduce the option for tenants to have this paid directly to the landlord, noting that the withdrawal of this has led to an increase in non-payment.
Written by Laurence Smith
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