BTL landlords are being caught out!
An increasing number of BTL landlords are being caught out by their legal responsibilities, according to recent reports...
The reality of buy-to-let is proving to be a very different to the ‘quick buck’ expectations of many BTL landlords. Indeed, the Health and Safety Executive (HSE) recently warned that landlords were not even aware of their responsibility to ensure that gas appliances were regularly checked and maintained.
"We want to send a clear signal to private landlords to look after the health and interest of their tenants instead of their own financial interests," explained HSE inspector Andrew Withers, commenting on the case.
"Keeping gas appliances in a safe condition and having a competent person to maintain them is not hard to arrange.
"Landlords need to realise they can potentially face charges of manslaughter if they fail in their duties and someone dies as a result."
Landlords ‘reconsidering their investments’
Difficulties in running buy-to-let investments has lead many to reconsider their investments, particularly with yields beginning to fall as interest rates increase.
Quick property purchase firm National Homebuyers" director Julian King says his firm can offer a lending hand: "We are seeing more and more amateur landlords contact us to help them out of their mortgage arrangement.
"We have had a steady increase in business from buy-to-let landlords who entered into their agreements expecting to become property tycoons.
"As the market slows and interest rates rise, many are find their plans are unachievable and are contacting us for a quick sale of their property," he added.