While priorities may have shifted amongst homeowners during the pandemic, it seems that for landlords this may not be the case, as new research from Hodge reveals that some things change and some things stay the same.
The bank questioned landlords who had a portfolio of under £5 million and found that getting the right tenant and a good property manager remain top priorities for buy to let property owners.
The research, which asked around 100 portfolio buy-to-let landlords and brokers for their views on the buy to let market, also found being able to re-let properties quickly was high up on landlords’ priority, with 37% saying it was a key concern.
53% of landlords said getting the right tenant in place is a top consideration, while 42% also identified finding a good property manager as being a concern.
Mike Clifford, head of commercial propositions at Hodge, said of the findings: “This research has highlighted to us as that no matter what challenges the market has thrown up over the last 18 months, the key concerns for landlord continue to centre around the base fundamentals of letting properties to good tenants and ongoing management. It is clear to us as a lender that we must work together with landlords and brokers to ensure that we continue to offer a service that simplifies the lending process and removes stress, rather than adding additional concerns.”
“At Hodge, our specialist residential investment team work hard to provide a flexible service to both brokers and landlords. The complexities of managing multiple properties is hopefully eased somewhat for Hodge customers, as our portfolio buy-to-let mortgage allows landlords to manage their assets with one loan, providing them with the ability to remove and add properties – which we have found is something BTL landlords are looking for from a lender.”