Numbers of Canny Women Becoming Landlords on the Rise
Pension’s uncertainty is one of the main reasons why the number of women becoming landlords is on the increase, according to a latest survey.
A landlord specific insurance company recent survey claims that 40% of BTL landlords are women, and that the private rented sector is fast gaining true equality much faster than other industry sectors.
From its poll of 447 landlords, it uncovered that 63% of female landlords are confident of their monthly received rent(s) as their future and will not be reliant on long term capital growth, whereas 53% of men held the same business life plan.
The study surprisingly found that women are more liable to become ‘accidental landlords’ as 48% had planned to invest into buy-to let, whereas for men it was 61%.
One of the reasons why women became ‘ accidental landlords’ was when moving in with their partner and then deciding to rent out their former ‘home’. Another common reason was when buying a property for one of their children when they go to university.
Apparently women landlords are more comfortable in renting out their property to a wider mix of tenant types than men. Approximately 35% of female landlords who took part in the poll said they were not opposed to taking on housing benefit tenants, whereas only 25% of men were prepared to do so. The study also claimed that women were more apt to ‘house’ students as well as pensioners.
The head of operations at the landlord insurance company, Alexandra Huntley, said: “As recently as 1970 women could be refused a mortgage without a male guarantor. But buying, selling, renovating, and renting property is no longer just for the boys. Those stereotypes are firmly consigned to history.
“Women have been steadily gaining ground over the last 50 years and are increasingly gaining financial independence through property investment.”