Who are today’s landlords?
Male, middle aged and measly may spring to mind but that profile of a property landlord is out of date in 2021?
For those of you old enough (or just Google if you’re unsure), many still think all landlords are like the character Rigsby from the 1970s TV show Rising Damp. Viewber set out to establish whether this stereotypical image of a UK landlord rings true in 2021, with surprising results.
Landlords are getting younger
Property investment is no longer an older person’s domain. In fact, new research released in June 2021 by Knight Knox found the average age of British landlords is falling. The property company’s data showed that 47% of landlords are now under the age of 40 – a stark contrast to the data from three years ago, which found only 29% of landlords were under the age of 40.
Why are property investors getting younger? The experts at Knight Knox found over 50% of the under 30s age group were ‘very confident’ about the future of the private rental market and wanted to start investing in property earlier to grow their portfolios more quickly.
The gender gap is closing
Property website realestateworldwide.co.uk reports that in 2018, only 23% of female adults in the UK held an investment product, compared with 35% of men, with this figure rising to 40% in 2019. Fast forward to 2021, and new research from Yieldit shows women have made up lost ground and now account for almost half (49%) of British landlords.
Two’s company: couples cash in
Although there is a lack of research regarding how many property investments are owned by more than one-person, anecdotal evidence suggests a growing number of buy-to-lets are actually run by couples. It is popular to rent out a previous property, rather than sell it, while some couples actively engage with property investment as a way of planning for the future – perhaps replacing a traditional pension. While a ‘couples’ approach allows the management of the let to be shared, it is worth taking legal/financial advice on matters of tax and ownership when more than one landlord is involved.
You can invest into old age
Investing in property is increasingly being used as a way to fund retirement years, with research by One Family revealing that 3.9 million over 50s plan to use some of their property wealth to fund their retirement, and later-life buy-to-let investments are part of their strategy.
Property investment in twilight years is being helped by mortgage lenders being more flexible when it comes to lending age limits. While the mass loan market will consider a buy-to-let mortgage that ends when the borrower is in their late 70s or early 80s, there are a growing number of lenders who have no upper age limit in place.
Whatever your age, gender or reason for investing in property, one thing is guaranteed – it will involve an investment of time as well as money. Viewber’s property visit and accompanied viewings service has been developed to help investors start and manage their buy-to-let – especially if the investment is in addition to a full-time job or run alongside a busy family life, if the landlord is self-managing or if the investor is just too busy having fun! We can visit any property on your behalf, anywhere in the UK and any day of the week.
Ask us about:
– Drive/walk-by appointments for scoping out new locations and properties
– Visiting properties for sale, listed with either estate agents or auction houses
– Property inspection reports at the start and end of a tenancy
– Access for tradesmen/tradeswomen, locking up and receiving deliveries
– Key holding services and Bluetooth keysafe fitting
– Live video viewings from any property in the UK
– Accompanying prospective tenants on viewings
Our Viewbers are already helping hundreds of landlords across the country, saving them the time and hassle of repeatedly visiting an investment property they own.
