Re-examining some of the most common myths around property investment should help potential investors decide whether buy-to-let property investment is the right option for them.

1) “Only experts can invest in property”

Investing without research and preparation is a fast way to lose money. That much is true. However, consulting an experienced advisor can help first-time investors through all the vital stages: planning, research, acquisition and management. By taking advantage of their expertise, aspiring landlords can enjoy important assurances and support, and minimise risk in ways that would be impossible if they were to go it alone.

2) “Investing takes time I can’t afford”

Landlords don’t have to manage their own properties. They can, of course, but investors of all sizes routinely use lettings agents. They take care of crucial tasks such as marketing, maintenance and repairs, utility bills and rent collection. They charge a fee but that leaves the investor’s time free. It’s what’s meant by ‘an armchair investment’.

An agent has a vested interest in keeping each property profitable, so it will work proactively to maximise occupancy and keep things running smoothly. That’s important for novice investors, but agents are also valuable for those with larger portfolios. They can provide on-the-ground support for properties in multiple locations; something that an individual investor might find impractical.

3) “I can’t afford rising mortgage costs”

Most buy-to-let properties don’t have to be bought outright. Mortgages are available, just as they are for ordinary homes, and good mortgage brokers will be able to identify suitable financial products and offer advice on affordability. Intense market competition has also meant that although the Bank of England has been raising the base rate, some lenders have reduced rates on their longer-term fixes. And with inflation expected to fall to 2.9% by year-end, the Bank should feel less pressure to keep the rate so elevated next year.

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4) “Prices are falling; it’s the wrong time”

Latest industry house price data show different growth rates. However, a short-term dip in values is no bad thing; it represents an opportunity to buy property more cheaply. It’s impossible to know exactly when a market will bottom-out but, given the strength of demand, capital values will inevitably return to growth within the medium term at least. In the meantime, properties will still be delivering rewarding monthly rental incomes.

5) “There are too many regulations”

Increasing taxation and regulation have persuaded some investors to leave the sector, but recent surveys have shown that many of those who know the market best are also the most optimistic. Having seen peaks and troughs before, they are holding their investments, confident that the shortfall between property supply and demand will drive longer-term price growth. Moreover, as nervous landlords leave the market, conditions improve for those who remain because supply becomes even more constrained.

6) “Houses are money pits”

Older properties can certainly incur high maintenance costs, and forthcoming energy-efficiency regulations mean that landlords with poorly-performing properties may face hefty retrofit bills. That’s a clear argument for investing in newer, more efficient properties: new-build homes, build-to-rent developments and modern conversions. Typically backed by 10-year guarantees and built to modern standards, they should present few unwelcome surprises for investors.

7) “It wouldn’t work for me”

Although this is a common emotional response, it isn’t a logical one. Property has been a reliable asset class for decades, benefitting over 2.7 million British buy-to-let investors annually. Furthermore, many investment opportunities come with rental assurances that pay a fixed gross yield irrespective of occupancy. With the right support, it can work for anyone.

Andrew Ward is managing director at Solomon Investment Partners