Landlords see Property as Pension

Landlords regard their property portfolio as an important part of their post-retirement income, as their confidence in the economy slumps to an all-time low.

A survey by the National Landlords Association (NLA) has found 81%* of landlords expect to rely on their portfolio to help them financially after they stop working.

The news comes after the number of savers contributing to pensions dropped by 8%** in the last 10 years – from 46% to 38% of all employees.

The NLA survey also found that landlords are increasingly pessimistic about the UK economy, with confidence dropping to a record low of just three points, down from 11 points one year ago.

David Salusbury, Chairman, National Landlords Association, commented:

“Landlord confidence in the financial market is at an all-time low. This combined with record low interest rates means that many individuals are looking for alternative ways to secure their financial future.

“Private-residential property can be a sound long-term investment for those planning their retirement. But potential landlords must realise that letting property is a lot more complicated than contributing to a pension.

“Becoming a landlord is just like starting any other small business. Anyone considering using property to bolster their pension plans must make sure that they put together a long-term business plan, taking account of the various regulations governing the letting of property, as well as their responsibility to tenants.”

To find out more about the National Landlords Association and the support it provides to landlords, visit www.landlords.org.uk

-ENDS-

*550 NLA members were surveyed. The survey was conducted by the NLA and BDRC Continental, the UK’s largest independent research agency, to evaluate landlord’s concerns during the fourth quarter of 2011.

**Statistics from the Department of Work and Pensions, December 2011. The overall number of people saving into a private pension fell from 46% in 1999/00 to 38% in 2009/10.


For further information, please contact:
Dane Svenson, Press Officer
0207 840 8925
dane.svenson@landlords.org.uk


NOTES TO EDITORS:
The National Landlords Association (NLA) is the UK’s leading organisation for private-residential landlords. It has over 20,000 paid-up members, ranging from full-time landlords with large property portfolios to those with just a single letting. NLA membership helps landlords make a success of their lettings business by providing a wide range of information, advice and services. The NLA campaigns for the legitimate interests of landlords by seeking to influence decision-makers at all levels of government and by making landlords’ collective voice heard in the media. It seeks to raise standards in the private-rented sector while aiming to ensure that landlords are aware of their statutory rights and responsibilities. Based at its head office in Central London, the NLA currently employs over 40 full-time staff and has a network of more than 40 regional representatives and branches throughout the UK.