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Close to half of landlords 'in PRS for the long term'

Nearly half of landlords expect to own properties in the private rented sector (PRS) for the long term.

Close to half of landlords 'in PRS for the long term'

Nearly half of landlords expect to own properties in the private rented sector (PRS) for the long term.

This is according to a new survey from Precise Mortgages, which found 27 per cent of landlords plan to continuing letting homes after they have retired, while 18 per cent will do so until they reach retirement age.

Letting agents in Liverpool and throughout the UK, will naturally welcome this news, as it suggests there will be continued demand for their Property management services in the foreseeable future.

When asked how they had entered the rental market, a third of respondents said they inherited a home and chose to rent it out, while 20 per cent had moved in with a partner who already owned a home that was then put up for rent through a Letting agent.

Some 14 per cent of people who completed the survey fell into the accidental landlord bracket, as they have been forced to let a property due to an inability to sell.

The organisation's survey found many landlords are looking to expand their portfolios, with 18 per cent saying they would like to add an extra one or two properties, while seven per cent aim to purchase five or more over the next 12 months.

Some 18 per cent of people said they feel as though they can budget better when a renter and 13 per cent claimed being a tenant makes it easier to live in a desirable area. One in ten respondents revealed they think renting allows them to live in a bigger property than they would be able to buy.

If you are interested in purchasing apartments to rent in Liverpool City Centre and require a property management service, then please call Nicola Vaughan at our Belvoir Liverpool Central office us on 0151 231 1613 for further information and guidance.

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