More than a quarter (27 percent) of London property landlords who let out a single property break even or run at a loss, according to new findings from the National Landlords Association (NLA).
The research also revealed that around one fifth (19 percent) of landlords who let out between two and four properties also just break even or make a loss on their portfolio.
The NLA estimates that around half of all landlords let out between one and four properties: 14 percent of landlords let just a single property, with 36 percent of letting between two and four.
The statistics demonstrate the importance of taking a professional approach to letting property and the NLA are reminding landlords of the range of services available to help support and make a success of their lettings business through September and November.
Carolyn Uphill, Chairman of the NLA said: “These findings point to a significant number of landlords who struggle to make ends meet, and show that for many, being a landlord isn’t just about watching rent money roll in.
“However, with proper planning and financial protection in place many could turn a failing business into a success and we’re urging landlords to explore the range of support the NLA can offer to help run a successful and profitable business.”
Andrew Batt, International Group Editor of PropertyGuru Group wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
