Why landlords should take a joined-up view of their finances
Managing property can involve plenty of day-to-day decisions, from maintenance and compliance to mortgage payments and rental income. But it is also worth stepping back and asking how your property fits into your wider financial plans.
For many landlords, property may be one of their biggest assets. Yet retirement planning, savings, investments, protection and inheritance planning can all play an important role too. Looking at these areas together can make it easier to understand whether your money is working as effectively as it could.
Here are three areas landlords may want to review:
- Income now and in the future: consider how rental income, pensions and investments could work together to support your long-term goals.
- Tax-efficient planning: make sure you are considering allowances and wrappers, such as ISAs and pensions, where suitable for your circumstances.
- Protection and succession: think about how your income, family and future plans could be protected if circumstances change.
As part of their NRLA membership, members can book a free, no-obligation initial financial consultation with Quilter Financial Advisers. It is a simple way to talk through your priorities and get a clearer view of your next steps.
Who are Quilter Financial Advisors?
Quilter Financial Advisers is part of Quilter plc, a leading provider of advice, investments and wealth management with more than 500,000 clients. Quilter manages more than £149.1 bn of customer investments1 and is a FTSE 250 listed company.
Tax treatment depends on individual circumstances and may change in future. Tax planning is not regulated by the Financial Conduct Authority.
