Lots of people are using property management in Bromley as a means to fund their retirements by investing in a rental portfolio, which is looked after by professional property managers like Your Professional Lets.
Importantly, many of these individuals rely almost exclusively on rental income created by their properties to fund their lifestyles once they retire.
Yet, more and more government policies mean this is becoming a challenge, while landlords are the target of attempts by the Exchequer to obtain more of their margins to create greater tax revenue.
The NLA recently announced in a discussion paper on its website that the government’s tax policy is having a significant effect on landlords, as well as aspiring landlords, whose chances of preparing for a decent retirement and creating a suitable income for their later years was starting to look difficult.
Luckily many new and existing landlords are discovering the quality work that Your Professional Lets does, managing properties for them on a ‘set and forget’ basis.
Property management in Bromley is their area of expertise and they have many years of experience that they can bring to ensure solid rental income and predictable revenue.
More over it has been estimated that to retire with £22,000 per year annual income, it requires savings or investments of at least £400,000. Sadly, the average the average individual reaching retirement age has just £144,000 saved up.
Therefore it is unsurprising that many individuals use property to add to their income.
If you are a landlord or aspiring landlord in the Bromley area and looking to work with an experienced property management company, get in touch today to see how we can help.
We work with landlords of all sizes from accidental landlords who have little time to manage a whole other property, right the way through to much more experienced individuals building or looking to build a professional property portfolio.