Surely I am not the only landlord worried about new EPC requirements?9:44 AM, 17th February 2021
About 2 weeks ago 125
The English Private Landlord Survey profile of landlords shows the average gross rental income for all landlords is only £15,000 and that 61% have a gross rental income of £20,000 or less.
By the time you factor in ever increasing costs and taxation it should be obvious that being a landlord is not some get rich quick scheme full of ‘Fat Cats’.
The profile goes on to say that 26% of landlords reported gross rental income of £20,000 to £49,000 and 13% £50,000 or more.
85% of individual landlords owned between one and four properties with 47% owning only one rental property. The remaining 15% of individual landlords owned five or more properties. Despite Section 24 mortgage interest relief restrictions 94% of landlords still own property in their individual name and not a limited company.
When asked why individuals became landlords at first 44% said as a pension contribution, 34% to supplement earnings or income, 7% to provide a home for a relative, child or friend, 6% because they inherited or were given their first rental property and only 4% became a landlord in order to let property as a full-time business.
The average age of a Landlord is 57 compared to the population average age of 39.
29% of landlords were employed full-time and 11% part-time. 33% of landlords were retired. 16%of landlords were self-employed (not as landlord). 13% self-employed as a landlord. Over half of tenancies were represented either by landlords who were retired 28% or those self-employed as a landlord 30%.
Landlords were asked for their total gross income (excluding rental income) over the previous 12 months:
Landlords were asked the approximate value of their total rental property portfolio:
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