Research carried out by a buy-to-let firm claims, that in some cases, landlords are not achieving maximum rental income because they are not following the local market.

The report says that just under half of landlords (43%) are fully aware of what they are doing and that staggeringly only 18% of those polled in the research, stated that they had fully researched their market before purchasing buy-to-let properties.

In total five hundred landlords were included in the research.  25% admitted that they had not carried out any checks of the local market information before investing in a property.

The ONS (Office of National Statistics) claims that the average landlord has properties worth £650,000.

 
The Buy-to-let firm believes that if landlords who invest in property of around £650,00 and with a yield of 5.6%, that by 2029 the investment would be worth £1.63 million.

Just by increasing the yield by 1%, by researching locations and rent potentials, then an additional £80,340 would be added to the investment by 2029.

 

The Buy- to - let firm's  chairman Steve Bolton says: “Neglecting to spend a reasonable amount of time and energy to devise a strategy for your buy-to-let investment can prove costly.

“The fact that increasing yields by a mere 1 per cent can increase the value of an investment by over £80,000 in 15 years shows how far good preparation can go.”