Most experienced landlords are well aware of the statement made in the headline of my blog. Sometimes, however, it is easy to forget that especially in more difficult times. It is worth restating it so that we can all strengthen our resolve.
This week it was Mike Goddard, CEO of Belvoir, one of the UK’s biggest specialist lettings agencies, who chimed in with a timely reminder.
His statement was closely linked to yesterday’s topic the hot rumours of huge rises in capital gains tax. Mr Goddard preaches caution and patience as the sensible reaction the talk of the CGT hikes. In part this is what he had to say
“At present I don’t think we need to view the situation with the rental market as all doom and gloom, particularly for those investors who are in this business for the long haul. I strongly advise potential investors to always seek the advice of a specialist lettings agent who is able to provide realistic and unbiased advice about rental yields.”
This seems like sage advice and I believe that most landlords will have been thinking in these terms anyway. At the risk of stating the obvious capital gains tax only applies if you sell.
