With interest rates on savings still at such ridiculously low rates today, not to mention a volatile stock market, property is still really the only sensible way to make your money grow for those able to put down a large deposit. An under-supply in the housing market means UK landlords are positively guaranteed high yields, with rents that will rise with inflation.
Despite the chancellor and his predecessor’s attempted crackdown on residential landlords in the UK, renting out bricks and mortar is an incredibly profitable sector to venture into – especially for those with the cash to buy a property outright.
But becoming a landlord isn’t as simply as buying a property, renting it out and watching your credit balance grow every month. There are many strategies to consider before taking that step. Will you rent to students or concentrate on single professionals, for instance? How involved in the management of the property do you want to get? Are you looking for a refurbishment project or a property one your tenant can move into directly?