The great this about the buy-to-let market is its adaptability. When the tax rates changed in 2016 for buy to let properties landlords had to adapt to higher stamp duty charges and tax regulations, but now two years later there its seems the buy-to-let sector has improved and is beginning to bounce back from previous potential setbacks. Although rental values dropped in London, in Belfast and across Northern
Ireland, the rental market has always been strong and is steady with demand from tenants.
There are pros and cons to buy-to-let, as any established landlord already knows. Would-be landlords would be well advised to familiarise themselves with the current rental market and demand for rental properties in various areas across Belfast and Northern Ireland as a whole. Some neighbourhoods and post codes are more desirable than others. When looking to purchase a buy-to-let property, market research is invaluable to a smart and profitable purchase.
Some of the obvious cons to becoming a landlord or investing in a buy-to-let property is that governments can change laws and rules without warning, interest rates may rise leading bankers to modify their lending arrangements, structural problems could arise within the
property and sometimes tenant’s circumstances can change suddenly without notice leaving your property empty.
Pros to owning a buy-to-let property are that owning and renting property can be a thoroughly enjoyable and wholly viable business
venture. Although house prices have fluctuated in recent years, we are seeing steady growth here and property investment is still a relatively safe long-term investment. Renting a property which allows you to pay your mortgage and allow for a bit of extra income is the ideal buy-to-let investment.
Aria Residential has a substantial list of properties we manage on behalf of our landlords. We would always advise signing up with a reputable and experienced letting agent who is trained in managing unforeseen circumstances with the property or tenant and who has the years of expertise to solve any problem that arises appropriately and efficiently. At Aria we have the knowledge, experience and empathy to deal with our long-time landlords as well as every new tenant we let to.
When looking to invest in a buy-to-let property always consider your own circumstances to know whether you are truly able to manage the property yourself. At Aria we make sure your investment is well looked after so you have peace of mind. Our prospective tenants provide references, guarantors and have a good credit rating. We vet our tenants and their guarantors so that your property is safe.
Contact Aria Residential today if you have a property to let or are thinking of buying a buy-to-let property.