Which landlord type are you

June 1, 2020 4:41 pm

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There are various circumstances and reasons which lead someone to become a landlord. We explore five main types of first-time property landlords that can all be supported by a Letting Agency Gloucester way such as http://www.tgres.co.uk/.

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The Professional Landlord

Over recent years the government has brought in changes in legislation affecting the buy-to-let sector, including stricter mortgage criteria, tax changes and stamp duty increases. It has certainly been tougher for buy-to-let landlords, and reforms are set to continue to through 2019, though it is still possible for profits to be made in this sector.

The Parent Landlord

Many parents invest in property in the city or town where their child attends university. This can have many benefits: saving on rent, bringing in additional income and security. After graduation owners will need to consider whether to rent long-term to other students or to sell up.

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The Landlord Who Has Moved On

When circumstances change, you may be left with a property that is no longer suitable or no longer required. If you have changed jobs, relocated to another area or abroad or moved in with a partner, renting out your property can be a good option.

The Landlord Who Inherited Property

Inheriting a property can be a stressful time, from coping with loss to dealing with inheritance tax. It can be tough to decide immediately exactly what to do with the property. Renting the inherited property is a good way to generate income from the property while you decide what to do in the long term.

The Landlord Saving for a Pension

With such low interest rates meaning savings aren’t being boosted as they were for previous generations, many people have chosen to invest in property to add to retirement funds.