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Hopes low for landlords
Jun 11 2008 by Tony McDonough, Liverpool Daily Post
A GLOOM has descended among landlords in the buy-to-let sector, according to a new survey.
Market researchers BDRC report that many landlords are losing confidence in the market amid declining profitability and rising levels of missed rent.
Only around 20% of property owners remain optimistic about the private rental sector, the lowest since the quarterly report began, in October, 2006. Profitability is at its lowest and levels of missed rent at their highest.
About 17% of the 500 landlords surveyed said they had missed a mortgage payment in the past quarter because tenants had not paid up.
Despite these concerns, landlords intend to stand behind their property investments. Some 44% said property would be their main source of income in the future.
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