Landlords urged to 'watch for investment bargains'

The credit crunch could be music to the ears of a prudent investor, according to the National Landlords Association (NLA).

The group has released a list of top tips to help landlords flourish during the economic downturn, and it says that there are good opportunities to be had.

The NLA's advice includes suggestions to research the local market thoroughly and charge slightly under the average rent, and to plan ahead to ensure that there is no rental 'void' between tenants.

Other tips include to maintain a good relationship with tenants, and to be sure that proper insurance is in place.

The advice comes at a time when the property rental market remains strong, amid demand from potential first time buyers finding it difficult to get on the property ladder.

NLA chairman David Salusbury said that proper advice for landlords is critical.

He said: "It's now been 12 months since the credit crunch became part of everyday conversation.

"Although in leaner times we all need to be a little more prudent, for professional landlords with an eye for a bargain, there could well be rich pickings.

"Rumours of massive increases in rent are probably being overplayed, but there is certainly a hike in demand for decent and well-placed property rentals."