Landlords 'must put in time and investment' - buy to let mortgages

09 December 2008

Those with buy to let mortgages must put time and investment into their property portfolios over the coming years if they are to make a profit, it has been stated.

Landlords must be "clever" to survive through the economic downturn, according to Kate Faulkner, the managing director of information website Designs on Property.

Speaking at the Landlord and Buy to Let Show held recently in Birmingham, she recommended that property investors make a plan in order to stay afloat throughout the credit crunch.

"You will not make money over the next ten years if you do not put in the investment and time to work out what the best buy to let strategy is," she advised.

Ms Faulkner also warned landlords about the prospect of rising unemployment leading to tenants not being able to pay their rent.

At the same show, editor at online resource LandlordZONE Tom Entwistle told buy to let investors they could save money by cutting out agents and managing properties themselves.