- Rental income grows as majority of landlords perceive property rental as part time activity
A new landlord survey has shed light on the changes faced by private landlords in England in the last six years.
Conducted by the Council of Mortgage Lenders (CML), research consultants BDRC and the London School of Economics (LSE), the survey compared how landlords’ profile has evolved since the the last major government survey was carried out in 2010.
The poll, conducted in June, asked landlords about their rental income and portfolio sizes and explored their attitudes to changes in the rental market.
Rent income goes up
The report showed more landlords received at least a quarter of their total income through rent.
The number of those whose rental income makes up between 25-49% of their total wealth has also increased to 21%, up from 11%.
Landlords earning less than a quarter through rent were also a growing group.
Almost unchanged remained the number of landlords earning half or more of their money through rent.
Not a full time job
Most landlords still perceive letting their properties out as a part-time activity (95% compared to 92% in 2010).
While the majority of landlords (63%) own one property, the number of those renting out up to four has nearly doubled, standing at 30% compared to 17% six years ago.
The number of landlords running up to nine homes had also gone up by three points.
Respondents were also asked to describe in their own words how sector changes would impact their lettings over the next 10 years. CML estimated about 16% cited government policy or tax changes as relevant factors motivating future plans.