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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