New Landlords Needed As Demand For Rental Property Outweighs Supply

 

Demand for privately rented property significantly outweighs supply and that gap will only widen unless investment into the sector continues.    

Landlords who developed their portfolios in the early days of the buy-to-let market nearly 30 years ago are in retirement or nearing retirement age, so a new breed of landlord will be required to step up and provide the rental homes of the future.

The average age of an 'aspirational portfolio landlord' (landlords with between one and three properties who expressed a desire to grow their portfolios) is around 38 years old, with the highest proportion aged between 25 and 34 (35%).

The report found that family and friends with an existing property business was a key driver for 43% of next-generation portfolio landlords to initially become a landlord, followed by a desire to develop long-term rental income.  

• 67% chose property over other assets because it’s a tangible asset
• 60% are investing in property because of the long-term demand for rental homes
• 53% view it as a long-term investment to supplement their pension
• 38% financed their first rental property via a buy-to-let mortgage, but 36% purchased outright

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Thinking of becoming a landlord in Kent?

Whether you are thinking of becoming a residential landlord or are a seasoned investor with a portfolio, get in touch with the Lettings and Property Management team at Quealy & Co.

We can advise you on how to purchase a rental property or rent out your existing home. We will help you achieve the best possible price for your rental properties, while advising you on compliance and ways to keep your tenants comfortable.

Call us 01795 429836 or email hello@quealy.co.uk to chat with a member of our friendly and experienced team about anything to do with your rental property. 

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Source: Dataloft by PriceHubble, Paragon Bank