Rise of the modern landlady

Rise of the modern landlady
As recently as 1970 women could be refused a mortgage without a male guarantor

The latest research from Simple Landlords Insurance has revealed that women now account for two in five landlords and use property to top up their monthly income.

Data analysis of tens of thousands of landlords revealed than 40% of landlords are women. By comparison, only 17% of SME owners are women, demonstrating how property is moving towards equality at a faster pace than other industries.

A poll of over 400 landlords showed how male and female investors have different goals for 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.

They include the story of Bindar Dosanjh, who built a multi-million pound portfolio after she became a single mother and she had to rent rooms to pay the bills and survive.

Bindar Dosanjh, a multiple award-winning landlord, property mentor and founder of the Female Property Alliance, said: “For me, investing in property was about having the freedom to make choices about my life.

“Women cannot take our health, our relationships, our careers, or our families for granted. I have made plenty of mistakes along the way but have been able to fall back on property income when I lost my job in the 2008 recession and again when I became seriously ill and was unable to work. I say to my students you don’t have to be passionate about property but you need to be passionate about your life.”


Accidental landlords

The research also found that women are more likely than men to have become accidental landlords. Some 48% of female landlords are deliberate buy-to-let investors, compared to 61% of men. Women were more likely to have become landlords after moving in with a partner and renting out their own property or through purchasing a property for a family member to live in, such as a child attending university.  

For accidental landlords, this raises the importance of staying up to date with legislation, tax changes, inspections and ensuring rental properties are protected with specific landlord insurance rather than homeowners buildings insurance.

Broader acceptance

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.  

Landlords renting to different types of tenants may wish to consider additional insurance products such as for malicious damage by tenants, rent guarantee and legal support.

Alexandra Huntley, Simple Landlords Insurance Head of Operations, says: “As recently as 1970 women could be refused a mortgage without a male guarantor. But buying, selling, renovating, and renting property is no longer just for the boys. Those stereotypes are firmly consigned to history. Women have been steadily gaining ground over the last 50 years and are increasingly gaining financial independence through property investment.”

Bindar added: “Being a good communicator, a good negotiator and being good at managing people are key attributes for any landlord. They are also things women can be great at - but don’t always recognise as valuable and transferable skills.  These are all skills that can be learnt.

I see many women who have ‘hidden’ skills, that can be applied to property investment more easily than they think. For instance, women often fall into being the family organisers, and keeping alot of balls in the air - another vital ability if you’re going to run a successful portfolio.

It is very important that women surround themselves with the right advice, experts and protection so they can take control of their property, their money, and their futures with speed, safety and certainty.”

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Latest Comments

Oliver Conway
Oliver Conway 18 May 2017

Making a neat inventory is a good idea, but if the seller is not willing to provide it, can the buyer demand it?

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Bertrand
Bertrand 17 May 2017

First step to nationalisation of the private rented sector IMHO. Nanny state poking their noses into things yet again. I object, as a decent landlord, sometimes having to deal with some pretty awful tenants,...

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Izzy
Izzy 16 May 2017

This is such a great a post. I love the detail you've gone into. It's a very useful article for helping those who are looking at deciding which sector they would like to go into! When I first started investing...

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paul burnham
paul burnham 30 Apr 2017

Jeremy Corbyn's pledge that a Labour government would build 500,000 new council houses must electrify the general election campaign. Reliance on markets and the profit motive has brought huge housing-related...

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CommercialTrust
CommercialTrust 28 Apr 2017

Sadiq Khan?s announcement of an online database of landlords and letting agents who have been convicted of housing offences, appears on face value to be a variation of the already implemented Database

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warren
warren 26 Apr 2017

You're very welcome Mary! Glad you enjoyed them :)

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Mary Ward
Mary Ward 26 Apr 2017

Thank you for the wonderful ideas. First impressions can make or break a deal. It's sadly that many homeowners drop the kerb to create an off-street parking space.

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Tony Gimple
Tony Gimple 14 Apr 2017

I'm not at all surprised that so many landlords are still confused about what the tax changes really mean and how it will affect them. In particular, the blind rush to incorporation is leaving landlords...

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MH
MH 13 Apr 2017

You are right that the bank holidays are going to be spoiled in looking for the properties. But people who want to sell their property and looking for the better relocation, they can get benefits of this...

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bnellyb
bnellyb 08 Apr 2017

There will be an exodus of private landlords over the next 5 years as tax changes take effect, private landlords provide an important service to the rental market, why do housing associations and councils...

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Fred Cassman
Fred Cassman 07 Apr 2017

"Make it look like you are at home": often people forget this and share on facebook their location!

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jared townsend
jared townsend 05 Apr 2017

It'll be interesting to see how & if the Government's asset sale regarding mortgages helps

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