Is being a landlord worth it? 63% of buy-to-let landlords recommend becoming one

The majority of buy-to-let landlords would recommend becoming one, a new poll by Simply Business has found.

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.

Whether it’s nightmare tenants or keeping up with the latest landlord tax changes, taking on a rental property isn’t without it’s headaches.

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.

Make sure you do your research before purchasing a property - such as looking at the current buy-to-let hotspots in the UK and thinking about what tenants might want from a property.

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.

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