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Another encouraging indication of the present rude health of the buy-to-let property market is the news - drawn from HM Revenue & Customs data - of a stark jump in the number of UK landlords in 2013-14, from 1.63 million to 1.75 million. Along with the 7% rise in landlords, the combined net income from rental properties has also rocketed; the already-impressive £13.1 billion recorded in 2013 standing at £14.2 billion the following year. It is worth bearing in mind that the data in question only extends to 2014, meaning that the current figure for Landlords Rent Insurance and their combined net income is now likely to be much higher. There are other factors in play that indicate the current figures regarding landlords and their income may be higher. The dawn of a new stamp duty regime on April 1st that heightened the upfront cost of property purchases led to a surge of people investing in buy-to-let properties in the preceding period, which drove up borrowing. Low interest on savings, cheap mortgages and rising rents are other likely factors in the recent rise in people looking to rent out properties. How Advanced Rent can help you to thrive as a landlord As the number of people becoming landlords increases, so there are more landlords eager to safeguard their investment, minimise uncertainty and shore up their financial security. Maintaining a career as a landlord can be difficult without some external assistance, even if the more negative headlines about the state of the market may be less than representative of the truth. Advanced Rent was conceived not long after the infamous 2008 credit crunch, after we realised that many landlords were struggling to access the capital needed to expand their property portfolios. Since then, we have slowly evolved into the company we are today, offering landlords across country services such as Landlord Tenant Referencing, rent guarantee insurance and deposit replacement insurance. These services, taken together, serve to reduce the likelihood of disputes, decrease risk and hassle and better ensure that your time as a landlord – whatever its length – is as smooth as possible for all concerned. Feel free to contact one of the Advanced Rent team to find out more about our in-depth and wide-ranging expertise that could prove of immeasurable benefit to you as a landlord.
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