We came across an article featured on Simple Landlords Insurance and in the article they talked about how many properties landlords in the UK had in their portfolio.
We have one property in our “portfolio” and this was an inherited property making us “Accidental Landlords”. At one stage we would have considered adding to our “portfolio” but with recent changes to tax etc, we are less inclined to think that adding is a good option.
According to the statistics in the article the number of landlords with only one property dropped from 78% to 63% in the past 6 years. We wonder if this figure will remain static for a few years now, as people (like us) that would have bought another property on the back of an existing property, hold back on their plans due to having to pay significant increases in stamp duty.
Also the article talked about landlords seeing renting out property as a “nest egg” rather than a business and we are inclined to agree with this statement. In a landlord meeting we attended in April we met with many landlords who did indeed have one property and who did not consider themselves to be in business with that one property. We guess that the more property you own, the more work you do and therefore the more likely you are to feel that the running of the properties is akin to running a business.
To read the article in full please click here