Residential property rental demand 'remaining strong'
Property professionals
1st December 2011
The need for insurance for buildings policies could increase over the coming months as rental demand is expected to remain strong in the UK.
This is according to the Residential Landlords Association (RLA), which has suggested that a shortage of housing in the country is keeping returns high.
However, the organisation's chairman, Alan Ward, also warned that tenant demand in some places is "slack" and a "metropolitan split" has developed in terms of need.
Noting that a report from Michael Ball recently warned some landlords are not aware of the real costs of maintaining their assets, he stated: "It is of real concern that most landlords seem to discount the true cost of running their portfolios."
Mr Ward recommended they focus on having enough cash available to sustain and manage their properties.
His remarks follow 57 per cent landlords quizzed by Paragon Mortgages predicting that the prospects for the residential property sector over the coming 12 months are good or very good.
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