The majority of buy-to-let landlords would recommend becoming one, a new poll by Simply Business has found.
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63% of landlords value the extra cash
There are a number of reasons people become landlords - sometimes it’s completely by accident. But those who do own rental properties say having the additional income is a big plus.
And it’s not just the rental income. With housing prices still on the rise, capital gains are definitely a consideration when purchasing another property. Rental yield can bring in extra cash in the short term, while the property itself can prove a solid long term investment.
Extra income comes with extra stress
But there are some downsides to owning a rental property. For the 37 per cent who wouldn’t advise others to become landlords, stress is a big factor.
Keeping ahead of the game
While there are certainly some difficulties with being a landlord, there are a few steps you can take to make things easier.
It’s also important to keep up with the latest news and legal changes for landlords. You can always check out our range of landlord-related articles, as well as following top property influencers to stay on top of what’s happening in the sector.
And having a great letting agent can definitely help take the stress out of the day-to-day business of being a landlord. Check out the best rated letting agents in London for an idea of where to start.
Would you recommend becoming a landlord? Let us know in the comments.