2008 Looks Good for Landlords
The rental market promises to be good for landlords in 2008, according to an industry expert.Members of the National Landlords Association are optimistic about the potential for their industry this year, according to David Salisbury, association chairman.
A study released by Paragon Mortgages indicates that rents increased an average of 19.4 percent last year. The fourth quarter of the year saw an increase of 8.1 percent.
Mr. Salisbury says this data is encouraging for members of the industry.
The industry representative says he expects to see increasing demand for rental property in the private sector. He predicts that tenants and landlords alike will benefit from a well-managed portfolio.
The industry appears to be positioned for sustainable success over the next five years as more than one-quarter of landlords say they expect to expand their portfolio.
Moneyfacts, an independent financial information provider, suggests that people may qualify for homeowners loans backed by their equity in real property.