As potential homebuyers find it increasingly difficult to save for a deposit in the current economic climate, growing numbers of people have been turning to the private rented sector to solve their housing dilemma.
And with inflation refusing to drop by any significant margin - indeed, levels actually rose to 3.5 per cent last month - even more first-time buyers may look to the lettings market unless any drastic changes occur that make buying a home a significantly more affordable option.
Given the successes that landlords have enjoyed in the rental sector in recent years, it appears that an increasing number of investors are looking to buy-to-let properties as a means to take advantage of the opportunities currently on offer, with one expert believing that the industry is booming.
"The demand for rental property is so extreme that investors of all types - whether they are experienced buy-to-let investors or new to it - are extremely impressed with the market," said Stuart Law, chief executive at Assetz.
Considering that both existing and first-time landlords seem to be confident in the continued ability of the rental market to yield profits, investors will be taking steps to maximise their returns. For example, cheap landlord insurance policies provide cover to properties in the event of any damage, helping to prevent investments from costing more than initially expected.
Properly safeguarding their assets is not the only way that investors can improve their chances of continued profits, as Marcus Roberts, director of student investment and development at Savills, has noted. He highlighted how parents are now more willing to pay higher prices for top quality student accommodation.
In this sense, prospective landlords can boost their potential for success by considering market trends and looking at properties that bring the biggest financial rewards.
"I think that parental expectations are changing in terms of the type and quality of accommodation that they are willing to pay for," he said.