With so much demand in the rental market at the moment, it is easy to see why a lot of people are considering their options. Being a landlord can be rewarding, but it isn’t something you should rush into.
If you would like to discuss your options, and see how a professional company can assist you, get in touch with Thomas Morris. We are pleased to say we have helped many landlords manage their rental property, and we are more than happy to assist you.
If you believe that being a landlord is for mature people in their golden years, you might be missing out. There is a genuine opportunity for landlords of all ages, and it appears as though there is an increase in the number of younger landlords.
Landlords are getting younger
According to a study undertaken by Knight Knox, 47% of British landlords are aged under 40 years old. This is a big change from their 2018 research which suggested 29% of British landlords were aged under 44 years old.
The survey was carried out with 500 private landlords as of March this year. There is a sense of optimism surrounding these young landlords, and the future of the industry. Some of the findings of the survey include:
54% of people aged under 30 were “very confident” about market predictions for the next 12 months
Only 15% of British landlords aged older than 51 were “very confident” about market predictions for the next 12 months
47% of respondents aged under 30 plan to buy an additional rental property within the next year
There has been a drop in the average number of properties owned by a landlord, shifting from 2.5 to 2.1.
Landlords aged between 18 and 30 generate an average income of £25,841 each year
Are you interested in being a landlord?
Andy Phillips from Knight Knox, said: “Landlords in the UK are getting younger and they’re more willing to invest in the market in order to grow their portfolios quickly. It’s really quite remarkable to find that almost half of British landlords are aged under 40 and shows that property investment isn’t exclusively for the elite. In 2018, 50% of landlords were aged over 55. Our latest research shows that this has declined to just 26% being aged 51 or over. The face of modern landlords in the UK is changing and it’s the younger generation which is seeing the greatest opportunity.”
If you would like to arrange a valuation of your rental accommodation, even in these challenging times we can provide this service. We can currently provide a range of safe property and lettings market services, aimed at helping you make an informed move.
If you are looking for help with any matter of the property or lettings market, it is best to speak to property professionals. You can book a sales or rental valuation appointment directly on line at a time and date of your choice by clicking here or alternatively click here for individual branch contact details.