The buy-to-let sector has witnessed increasing numbers of first-time landlords looking to benefit from the boom in the lettings game in recent years, and it seems that investment will continue to hold strong in the coming 12 months as 31 per cent of existing landlords plan to invest further.
This is according to the latest Landlord Survey conducted by CHL Mortgages, which revealed a strong sense of positive feeling among landlords, with 71 per cent optimistic regarding the future prospects of the rental market, and only a very small minority - five per cent - found to feel negative.
"Just under a third of current landlords intend to supplement their existing portfolios with further property acquisitions and this figure is likely to be complemented by new entrants and the usual smattering of accidental landlords," said Bob Young, managing director at CHL Mortgages.
With the demand for rented accommodation among prospective tenants expected to hold strong, it appears the significant sense of confidence felt by landlords could be linked to the possibilities for further profits if market trends continue as they have done in past years.
And as both existing and first-time investors look to benefit from the booming buy-to-let sector, the need for cheap landlord insurance policies is sure to rise as people go about protecting their new assets.
Indeed, given the threat that unexpected damage can pose to the profitability of properties, effective cover can prevent landlords from having to foot any repair costs that they may not have budgeted for, removing one of the notable risks associated with letting property.
"All in all, the buy to let market is a positive place to be at present and while landlords are not immune to wider economic uncertainty, they are confident in existing and future tenant demand," Mr Young added.