· 1 min read
Property is one of the best investments there is when done right, so it's no wonder many people are seeking to become a landlord as an extra stream of income and to plan for their future. Although it can be a great source of income, it isn't without a lot of responsibility. Here's everything you need to know about becoming a landlord in 2025.
The biggest thing to consider is the property itself. Whichever route you take — new build, older home, or a renovation project — it's important to enlist a professional. A RICS surveyor will look at the property in great detail and determine whether the initial investment is worth it, with a report covering estimated repair costs, stability and other elements to support your decision-making.
Being a landlord isn't just about the investment but the responsibility. Any repairs — electrics, heating and structure — are the landlord's responsibility, as is ensuring all health and safety regulations are complied with. Ongoing increases to taxes, stamp duty and other expenses all add to the cost of owning a buy-to-let.
New legislation requires all rented properties to have an EPC rating of C by 2028, which will require older properties to undergo significant upgrades. The Renters Rights Bill has also been introduced with a number of changes to support both landlords and tenants — one of the biggest being making all tenancies periodic, with tenants ending a tenancy on two months' notice and landlords via a section 8 notice.
Despite the responsibilities, the renters market is relatively steady and remains strong. Many people aren't in a position to purchase, so are renting for longer, making investment properties a stable reward over time. As a landlord you benefit from consistent income as well as a rise in property value over the years.
Whether buying a newer home for peace of mind, or an older property that requires renovation, a RICS HomeBuyer survey or Level 3 building survey will best suit your needs.