If you have a property that you’re not living in, or money available to buy another property you may be wondering what it is like to be a landlord in Peterborough. From the outside it might look like a Peterborough landlord has it pretty easy. However, there are some challenges that mean being a landlord isn’t always an easy ride.
Here at AGT Property Management we help landlords with these challenges to make being a landlord in Peterborough easy.
In this blog post we share some of the advantages of being a landlord in Peterborough. If you’d like to know more about the challenges you may face and how we can help you overcome them, call our team now. We would be happy to answer any questions or concerns that you may have.
- Steady Income
One of the main advantages of being a landlord is the potential to earn and large and steady income from the property. Just like getting paid for a job, you will be paid monthly by people living in your property. The bigger the property and the property portfolio, the more the landlord will earn. The profit on a property will be even more substantial if the landlord has paid off the outstanding mortgages on these rental properties in Peterborough.
As a professional landlord you are your own boss. This means that you can choose how big you want to grow your property portfolio and the properties within your portfolio. As your property management company, we then work for you. We can find tenants for your properties and manage your property for you. This means that you can get on with a full-time job, running another business or just enjoying your own hobbies and the extra time you have on your hands. It’s your business and you can do as you feel.
- Allowable Expenses
When you are a landlord, there is lot you need to be aware of. If you work with a professional property management company, like the team here at AGT you’ll stay informed of this. For example, the UK government offers relief in the form of expenses to offset the fairly heavy taxes on the income of a landlord. It’s important to note that not all expenses are classes as allowable. We can talk you through the expenses that are allowable and the ones that are not so you can get the most from your rented property in Peterborough.
While there are minor fluctuations in the price of houses, buying property to let is generally seen as a safe long-term investment. By investing in rental properties, a landlord has a reliable and regular source of income for years to come. House prices are projected to continue rising, which means it stands to reasons that rental property in Peterborough will become more and more profitable over the years too. People will always need somewhere to live, and that is what you own.
If you are considering becoming a landlord in Cambridgeshire or surrounding areas, call our team. We can talk you through the pros and cons and what you need to know.