Research from Simple Landlords Insurance has found that women now account for 2 in 5 landlords and use property to top up their monthly income.
Data analysis from thousands of landlords revealed that 40% of landlords are women compared to only 17% of SME owners being women, demonstrating how property is moving towards equality at a faster pace than other industries.
The research also indicates that females want different outcomes from their investments: 63% of female landlords said using rent for monthly income was their long-term business goal, as opposed to long term capital growth, compared with 53% of men.
The findings, together with real life examples and practical advice for female landlords from the Female Property Alliance, are published in the Women in Property Report 2017 www.simplelandlordsinsurance.com/women-in-property-report
It charts how women have successfully grown from accidental landlords to full time portfolio investors and used property investment to gain financial independence.
Historically women have become landlords by accident as a result of moving in with a partner or renting out their property or purchasing a property for a family member. Around 48% of female landlords are deliberate buy-to-let investors, compared to 61% of men.
For accidental landlords, this raises the importance of staying up to date with the legislation surrounding letting property, managing rented property and tax and insurance implications.
Female landlords are also likely to provide rented accommodation to a more diverse range of tenants than men. Some 35% said they would rent to housing benefit recipients, compared with 25% of men. Women were also more open to renting to pensioners, students and single employed tenants.
Women have the many transferable skills required to be a good landlord; good communicator, organisational skills, technology savvy and the ability to manage and organise people. As with running a family, women tend to be able to multi-task very successfully – vital to managing a portfolio of properties and managing the maintenance.
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