First-time buyers might be getting older, but when it comes to landlords, itโs a different story.
Back in 2014, the average age for a landlord purchasing a rental with a buy-to-let mortgage was 46.4.
According to a new survey*, by 2023, that figure was down to 42.9.
๐๐ด๐ฒ ๐ฏ๐ฟ๐ฒ๐ฎ๐ธ๐ฑ๐ผ๐๐ป
The survey found 11% of landlords were aged 18 to 24, 35% were 25 to 34, and 31% were 35 to 44.
About three-quarters were higher-rate taxpayers in full-time employment.
๐ฃ๐ฟ๐ผ๐ฝ๐ฒ๐ฟ๐๐ ๐บ๐ฎ๐ป๐ฎ๐ด๐ฒ๐บ๐ฒ๐ป๐
Many of these young guns rely on a letting agent to help deal with issues such as late payments, property damage and anti-social behaviour.
45% reported working very closely, and 38% โsomewhat closelyโ, with a letting agent.
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Landlords are often stereotyped as being older and wealthy. But this survey shows a new breed of aspirational young landlords is coming through.
๐๐ฒ๐ ๐ถ๐ป ๐๐ผ๐๐ฐ๐ต ๐๐ผ ๐น๐ฒ๐ฎ๐ฟ๐ป ๐บ๐ผ๐ฟ๐ฒ ๐ฎ๐ฏ๐ผ๐๐ ๐ผ๐๐ฟ ๐ฝ๐ฟ๐ผ๐ฝ๐ฒ๐ฟ๐๐ ๐บ๐ฎ๐ป๐ฎ๐ด๐ฒ๐บ๐ฒ๐ป๐ ๐๐ฒ๐ฟ๐๐ถ๐ฐ๐ฒ๐.
*Next Generation Landlord Report 2024.
