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New landlords are using rental income to provide for their retirement

New landlords are using rental income to provide for their retirement

A high proportion of struggling residential property owners are copying the practices of successful portfolio landlords and choosing to offer their properties for rental purposes in the UK private rental sector (PRS) in order to provide adequate finances for their retirement.

Of the struggling property owners choosing to offer property to rent for the first time and existing portfolio landlords who responded to the BM Solutions/ BDRC Continental survey:

  • 84% view their rental property as a supplementary income to their pension
  • 60%of landlords actively plan to live off the rental income either before or at retirement.
  • 40% agree that their property is their pension and intend to make a decision dependent on the state of the property market once they reach retirement age.
  • Very few landlords plan to sell all properties in their portfolio when they reach retirement

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A post from one of our trusted advertisers, letting agents and theLHAexpert John Paul from Castledene Property Management who has a message for all the disillusioned property investors bemoaning their fate…..

Property Investors who can't make money from property should quit moaning and take action!

Property Investors who can’t make money from property should quit moaning and take action!

Property Investors Who Can’t Make Money In Property Should Stop Moaning

“Since attending more and more UK Property Networking Events it amazes me that there are still number of property investors sitting there feeling sorry for themselves, blaming the current economic climate, or the banks, or the mortgage companies, or whoever it may be, that they are the reasons why they can’t invest or make money in property.

I have one thing to say to these people…..

Get a grip and stop moaning!

Stop feeling sorry for yourself and make up your mind if you want to be in property or not.”

Read some of the most common excuses of why people don’t, can’t or won’t make money in property.

Read the full article here

 

John Paul - theLHAexpert and Head of The Castledene Group

John Paul – property author, portfoliuo landlord, professional letting agent, theLHAexpert and Head of The Castledene Group

John Paul is a portfolio landlord in the North East and founder of the Castledene Group of letting agents. The business is a member of ARLA, NALS, PI insurance and subscribes to the Property Ombudsman Code of Practice.

Offices are located in Seaham, Easington, Bishop Auckland, South Shields. Halifax, Leeds, Manchester and Belfast.

Both John Paul and the The Castledene Group have earned an enviable reputation of being leading experts in the management and letting of residential property to benefits claimants in receipt of Local Housing Allowance “LHA”.

There Will Never Be A Better Time To Invest In Property

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