There will be a few changes in 2022 that you should know about if you are a landlord or are planning to rent out your property to start the new year. It’s crucial to keep up with all the rules and laws that apply when you start this journey. Those who rented out their homes did pretty well because rents went up and the stamp duty holiday got longer. But that doesn’t mean that the next year will be the same.
The rental market is constantly changing, and people’s needs in terms of length of stay, space, type of property, and location are always changing. This is especially true now that more and more people are starting to work from home. Because there aren’t enough housing options and more people want to rent, rental prices are going up.
Since the supply shortage is likely to last through the summer, rental prices in the UK are likely to go up even more. This will probably make more landlords want to buy their own homes. And it will be intriguing to see what kinds of homes these property owners want to buy.
But if you plan and think ahead, you can make as much money as you can and keep your things running smoothly for a long time. This infographic shows you some of the most important and up-to-date facts about the private rental sector. The latest data from BVA BDRC shows the main problems landlords are having in Q2, how their finances are doing, and what they anticipate for the next three months.
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Infographic designed by The Landlord Works
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