Landlords plan to tough it out

The results come in one of the most comprehensive surveys ever conducted, among the country’s private rented sector landlords, by RLA.

RLA director, Alan Ward, said: “It paints a fairly optimistic picture, but, for most self-employed people, there is often little choice faced with long-term investment and the credit-crunch.

“For nearly half our members, owning and renting property is a business and to more than a quarter it’s a main source of income. And that means we have to take the body blows, like everyone else, and hope things improve.”

The survey shows that 40% of respondents first became landlords between 1999 and 2004 although 26% have been renting out property since before 1996. The majority (68%) own up to 10 properties, 13% have between 11 and 20, 11% rent out 21 – 50, and 5% operate portfolios of more than 50. Some 48% have fewer than 10 tenants but 9% have more than 50.

Nearly half (47%) began buying and renting residential property to create an alternative pension but for 27% it is a main income with 45% regarding it as a business. Just over half of all portfolios (51%) are worth between £500,000 and £2million and 34% are worth less than £500,000. But 8% are worth £2-5m, 3% from £5-10m and 2% are worth more than £10m.

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