Buy To Let
16% of single property buy-to-let landlords suffer rent arrears
Britain’s smallest private landlords are struggling with rent arrears, according to BDRC Continental’s latest Landlords’ Panel survey.
The research found that the number of single property landlords making a loss doubled during the second quarter of 2012, with 16% of properties now losing money.
Also, 9% of these landlords experienced voids that lasted just over two months during the quarter.
Landlords with larger property portfolios fared better, with just 3% of those holding over 11 properties suffering a loss. 69% of landlords with 11-19 properties and 68% with 20 or more in their portfolio make a full time living from letting.
Mark Long, director at BDRC Continental, comments: “It is a tough time to be a private landlord if you have only one property in your portfolio.
“Over the last quarter profitability has clearly taken a dive. Regardless of their size, there is no question the private rental sector relies on private landlords and, whilst a third may aspire to increase their property portfolio, they will only be able to achieve this goal and add to Britain’s privately rented housing stock if they can make a profit from that one property.”
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