How wealthy are your landlords?

publication date: Aug 29, 2013
author/source: Kate Faulkner, Property Expert and Author of Which? Property Books

How wealthy are your landlords? 

A recent study by the Strategic Society, with support from Shelter, suggests your landlords are in pretty good financial health. 

They estimate the average landlord is middle aged (45-64) and married (72%). A disproportionate number live in London or the South East (34%). Interestingly, they are also highly educated. Two in five have a degree or higher. 

From a wealth perspective:-
  • 72% PRS Landlords have just one rental property
  • 12% of landlords have three or more 
  • The average (median) rental income a PRS landlord has monthly is £500 per month 
  • One quarter of landlords secures £900 per month
  • 60% of PRS Landlords receive more from earnings than rental income.
  • 77% are in employment, mainly in private sector
  • Their average (median) gross monthly earnings are £1,375
  • Three in 10 earn £2000 or more per month.
  • 49%of PRS landlord’s main home is worth £300,000 or more
  • 52% of landlords have a home with four or more bedrooms 
  • 45% of PRS Landlords have total financial assets worth £30,000 or more
  • 26% have financial assets worth £70,000 or more 

And the good news is, despite the recession, 63% think investing in property is the safest way to make money and 49% think it is the best way to save for retirement.
So your landlords are bright and well off. What’s interesting though is many have bought their properties in the wrong way from a legal perspective and hardly any have an exit strategy or their tax professionally sorted. 

Offering landlords a service is now way beyond just letting their property. Landlords need local buy to let specialists to help them invest, not in just their property portfolio, but also their finances which will be very tightly linked. 

For help on how to provide specialist buy to let services to your clients, contact us for more information on our bespoke training on buy to let strategy. 

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