Quarter of small landlords break even or run at a loss
More than a quarter (27pc) of 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 findings also show that around a fifth (19pc) 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: 14pc of landlords let just a single property, with 36pc 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, 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.
“In particular, landlords in this situation should try our online rent management solution, Rent Manager. Like all of the NLA’s services, Rent Manager is designed by landlords, and aims to make the task of rent management much easier, saving you both time and money, no matter the size of your portfolio.”
Rent Manger, which is free to full NLA members, allows you to
- Set-up different tenancies for all tenant and property types e.g. HMOs, student lets, LHA tenancies, full property lets etc.
- Create rent schedules for tenants in properties/rooms
- Enter and keep track of full and partial rent payments
- Receive rent arrears alerts
- Record all tenant communications