As we enter a time of year that can be very fraught even in the best of economic circumstances, it seems that landlords disagree over the effect the recession is having on their property business prospects.
I don’t think anyone would deny that times are tough.
It seems that in some parts of the country tenants are proving very difficult to find. Given the time of year many landlords worry that if they have a property that is standing empty now it could easily remain that way for some time into 2009.
And it is true that the ‘time served’ landlords are facing heavy competition from people who have had the business forced upon them when they are unable to sell their extra property. And there are properties from the abandoned sales market flooding the sector.
Despite all this some landlords seem to think that it is not all doom and gloom. One landlord on a popular forum is quoted as saying the credit crunch is the best thing that ever happened to time served landlords.
Now, while I would not go that far, I can partially see his point. People will always need somewhere to live and if they cannot afford their mortgage payments or cannot get the banks to lend them money to buy their first house then it is going to be the rental market for them.
With a good business plan and the right products on your side you should be able to weather this storm in fairly good shape.
REMEMBER – It is all about being prepared and making sure that your property is competitively priced for a fast let in the current market!
