Apparently we like to keep our friends close, and our investments closer!
A new report, by Simple Landlords Insurance, has revealed that 65% of landlords live within 10 miles of their rental properties, meaning they are able to manage the day-to-day running to the property themselves.
Of the 10,000 landlords questioned, only 13% live 10 to 25 miles from their investment, whilst just 15% live 50 miles or more away.
65% had made a conscious decision to invest (it’s not clear if this is the same 65% that live so close and manage their own investments!), whilst a significant 17% of respondents admitted to being accidental landlords, who may not be entirely sure of the processes required to comply with increasingly complex landlord legislation. An additional 9% revealed that they had purchased property for a relative to live in, but admit that they are still maintaining the role of a landlord.
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