Quarter of landlords admit role is more stressful than expected

Stressed out Landlords on the rise

Stressed out Landlords on the rise

According to recent surveys the number of landlords reporting an increase of stress levels is on the rise.

UK Landlord Tax, the online self assessment service for landlords, recently carried out a survey and found one in four (25%) of landlords found the job more stressful than they had expected. 67% of landlords were more stressed than they were 12 months ago.

These figures are surprising as many people enter into property to create a passive income for themselves, perhaps giving up the existing profession to be a full time landlord, expecting more time and less stress, it seems this is not the case.

Here are some more interesting figures;

  • 46% of landlords spend 20 hours a year on phone calls
  • 59% of landlords worried about late rent payments
  • 40% of landlords worried about maintenance costs and repairs
  • 35% of landlords had concersn over empty properties
  • 20% worried about not having enough time to deal with the issuse due to work commitment
  • 74% of landlords said they had no plans to stop renting out their properties BUT
  • 51% said they didn’t expect to make any money in that time either.

This is making being a landlord sound rather depressing, all the stress for no financial reward.

I would be interested to know how you feel about life as a landlord? I know that I have had my fair share of sleepless nights through the years.

What’s great for me now is that all my properties are managed within Abode, so I know that everything is taken care of so I can focus on driving Abode forward, writing my blogs and having some free time with my family and friends.

We set up Abode with all the systems in place from the outset, so I know if a tenant gives notice my property, in the hands of Collette, is then in the flow of preparing for that move out, whilst the quest for a new tenant begins.
I also know that if a maintenance issue is reported, Elaine will see to it that it gets dealt with in a timely fashion, keeping my tenant and my property happy.

None of us are superhuman, life is sooooo hectic these days that outsourcing work allows you to focus on the things that you enjoy, or that make you money or both!

I’d love to know what stresses you out, or causes you sleepless nights, or maybe you have everything under control – let me know here

 

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