According to the National Landlords Association, amateur landlords are becoming more and more confident when it comes to managing their properties.
An amateur landlord is one whose income is not entirely based on their rental income. Instead, they choose to supplement their income with the profits they gain from their properties, whilst still maintaining separate jobs.
Whilst originally amateur or accidental landlords came about through the acquisition of property through inheritance, or due to circumstances such as relocation, amateur landlords are starting to mature, and it is expected that 1 in 5 will look to expand their property portfolio in the next year.
As landlords are starting to find it easier to get hold of buy-to-let finance, the number of amateur landlords has reached record levels. Amateur landlords now make up 70% of the sector, and it is predicted that they own an average of 4 properties, which generate an annual growth rental income of £31,000.
As the market for amateur landlords grows, there is a shift in focus to positive landlord-tenant relations and ensuring that the tenant is kept happy.
Landlords are spending up to a quarter of their profits on maintenance and repairs, meaning that they do not want to be spending a fortune on additional property management expenses.
The NLA has launched series of new guides for amateur landlords, with the aim of helping them to get the most from their properties, whilst still handling their properties professionally.
Arthur Online is the perfect property management solution for amateur landlords that are still busy with their day jobs. The ability to manage all of your properties remotely from your phone means you can have the best of both worlds, and carry out all your jobs effectively.
Why not try Arthur’s free demo today to find out how remote property management software can transform your property management business.