Leasing out a second property to secure a regular income

Ever since the 2019 Covid Pandemic hit the entire world, property prices have risen consistently, where lots of other businesses struggled and lost money, the housing market took off.  Landlords who let out properties were able to increase their Tenants monthly rent and secure loans based on the increased values of their rental houses. To make sure they received the best valuations possible many Landlords invested money into these homes by having a professional, experienced trades-company complete a thorough Kitchen Refurbishment.  Spending on average about half the price of a brand-new kitchen install, taking half the time and making half the mess, these forward-thinking business Landlords were guaranteed to achieve full market value and therefore be able to increase their monthly rental charges.

Image credit

Having new kitchen cabinet doors and worksurfaces, a fresh coat of paint on the walls and ceilings as well as new hard wearing flooring, again ensured these savvy landlords were able to charge a higher rental rate. Properties have always attracted smart investors and as long as you are prepared to maintain that investment it will always make you money.

Image credit

Having cleared any mortgage or debt on the rental property, landlords know that even if house prices crashed, they could hold onto that investment until the housing market stabilised again.  In 2008 the Financial Crisis of the time did hit the price of houses and many homeowners and landlords found themselves in a negative equity situation. This is when having no mortgage on your rental property is to your best advantage.

Leave a Reply

Your email address will not be published. Required fields are marked *