The proportion of part-time or amateur landlords - those who supplement their day job with rental income - has reached its highest ever level according to NLA research.
Part-timers now make up more than 70 per cent of the sector. The findings also show that a fifth of these landlords are so encouraged by the current rental market that they intend to add to their property portfolio this year.
A typical part-time landlord has on average four properties and generates an annual gross rental income of £31,000. However, a quarter of this income is spent on property or portfolio related maintenance costs.
More than four in 10 of these landlords have used buy-to-let finance to fund their lettings portfolio, and almost 40 per cent of all landlords agree that it is getting easier to access buy-to-let mortgages.
These figures reflect the increase in buy-to-let lending last year, up 32 per cent to £20.7 billion. However, four out of five landlords agree that the market would benefit from more buy-to-let lenders and greater competition.
The NLA has launched two new guides to support the growing number of part-time or amateur landlords who are considering a new investment or planning to expand their portfolio.
Private landlords put an estimated £20bn into providing homes. But a part-time landlord typically has a day job so it can be a very challenging task to keep on top of managing and maintaining homes claims Carolyn Uphill, chair of the NLA.
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Comments
Good, proactive step by the NLA. Landlords sometimes need help and assistance, and these guides would provide that as well as making sure landlords dont take on too much, which could lead to neglect of property as things get on top of people who also have a full-time job to think about.
Just because youre a part-time or amateur landlord shouldnt mean youre not held to the same standards as those who do it full-time.
I'm a full time landlord myself, but I say that if they have the time and attention to devote to their properties then why not! I would however caution them to not get in too deep, I've often bitten off more then I can chew with properties and this is my full time job! I do think that there is room for competition in the market, but we still need to make sure that the number of BTL properties doesn't outgrow the need.