27 Sep

Number of landlords 'on the rise'

Number of landlords 'on the rise'

There has been a rise in the number of homeowners renting out their buy-to-let properties in an attempt to gain a rental income.

Earlier this week, insurance provider LV= revealed that more people have become willing to let out their properties, after figures showed there has been a 15 per cent rise in the number of homeowners with lodgers over the past three years.

There are now more than 210,000 householders with tenants in the UK - a figure similar to levels seen in the 1960s.

Speaking on the findings, Emma Banks, a spokeswoman for LV=, said becoming a landlord is a good option for many as more people are continuing to rent into their forties.

"Back in the 1960s, the majority of lodgers were aged under 25, whereas today the age spread is broader, with a significant rise in people in their thirties and forties living as lodgers," she stated.

There could be more people who are interested in becoming landlords after the report showed that the average lodger household makes £4,700 a year from renting rooms out.ADNFCR-1222-ID-800083697-ADNFCR

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