Vast majority of buy-to-let owners 'part-time' landlords
Many of the UK's private landlords may benefit from professional property management services to help them free up time for other commitments.
This is because, according to a new government survey, the vast majority of landlords in the private rented sector have other jobs to supplement their income.
A poll by the Department for Communities and Local Government found that only eight per cent of landlords stated they were in the buy-to-let business full-time.
Some 89 per cent of buy-to-let property owners are private individual landlords responsible for 71 per cent of all private rented dwellings, the survey found, with a further five per cent of landlords being company landlords responsible for 15 per cent of dwellings.
More than three quarters (78 per cent) of all landlords only owned a single dwelling for rent, suggesting many have another source of income and may have a full-time profession.
Using the services provide by residential lettings agents could be beneficial for many landlords with other demands on their time as agents can help deal with the day-to-day a management of the property including finding tenants and drawing up a proper tenancy agreement.
Meanwhile, the results of the survey also reflected the growing interest in buy-to-let investment that has arisen in recent years due to rising rental yields.
The study found that 51 per cent of all dwellings were acquired after 2000, with another 25 per cent bought in the ten years between 1990 and 1999.
And while the majority (54 per cent) of rented homes met the government's Decent Homes Standard, this rose to nearly three-quarters (74 per cent) for those let by new landlords, suggesting that those who have entered the business recently have recognised the need to supply tenants with good quality housing.
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