How do you feel about becoming a landlord?
If you’re planning your long-term financial security, you have plenty of options to choose from. Savings, shares, pensions, property… they all have their pros and cons, and people choose one or more for multiple reasons.
We have many different types of landlords as clients. Some of them own just one property, while some have large portfolios. But regardless of whether they’re private individuals or limited companies, they share some common motivations for owning rental homes.
Freedom, stability, feeling in charge, retirement planning and financial security for their families are all in there, and so is the feelgood factor in nurturing their passion for property and providing comfortable homes that people to live in for many years.
So in this week’s blog, we’re diving deeper into how our clients choose to become landlords and why they enjoy it, so you can decide if you’d like to start and grow your own lettings portfolio.
For many of our landlords, the fact that property is something they can see and touch is enough to make it their investment of choice. As well as taking comfort in that physical quality, they also feel that being a landlord is one of the safest investment options, for a number of reasons:
With more rental homes needed and never enough being built, it’s hard to see the private rented sector and landlords having anything other than a very assured future.
When many of our landlords bought their first investment property, they already had an existing career, often working for someone else. For them, buying a rental home was a first-step in feeling in charge of their own destiny without being answerable to anyone else.
Some of the things they recommend about being a landlord include:
There are very few investment strategies that give you such direct control over how your assets are managed and perform, and it’s this freedom that appeals so much to our clients.
Unless you’re a substantial shareholder, you don’t have much immediate sway over how a company operates. As a landlord it’s a very different story, and you can future-proof your income by follwing market trends and putting the equity in your rental homes to work.
Among the many ways our landlords leverage their properties, you can:
If you’d like to make the most of the rental market in the Wilton & Salisbury area, we’re here to help you stay on top of changing tenant demand so you can create popular and profitable lettings.
There are no two ways about it: later life is coming for us all, and even a small lettings portfolio can give you a valuable feeling of security in retirement. For our clients, being a landlord has some of the following advantages to build financial security after they stop working:
According to the English Private Landlord Survey 2021, planning for retirement is the main reason why people become landlords, with more than half saying that owning rental property was mainly about a pension investment. So why not join them?
Like many of our landlord clients, you might want to ensure a solid financial future, increased opportunities and an easier life for your children when they become adults.
There are many ways that owning rental homes can help you provide your family with financial security and give your children a head start, including:
If you’d like to know more about using rental homes to create a secure financial future for your family, our previous blog on doing it for the kids is full of expert tips.
What’s your next step?
If you’d like to know more about becoming a landlord or you’d like to buy a rental home in the Wilton & Salisbury area, why not get in touch?
We’d love to help get off to a flying start and build a successful portfolio, so call us on 01722 580059 or firstname.lastname@example.org. Everything starts with a friendly chat!
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