The number of female buy to let investors is on the rise, with two in five UK landlords now women, according to new research by Simple Landlords.
40 per cent of UK landlords are now female, with the majority of those using rental property as a means of supplementing their monthly income from other sources. In comparison, just 17 per cent of SME owners are women, suggesting that property is taking steps towards gender equality before other sectors.
The research is featured in a new Women in Property Report, with real life examples and practical advice for female landlords from the Female Property Alliance.
However, it was found that male and female investors have different goals for their investments. 63 per cent of female landlords say that using rent for monthly income was their long term business goal, rather than long term capital growth. 53 per cent of men said the same.
Women were found to be more likely to become accidental landlords, with just 48 per cent of female landlords consciously opting to become buy to let investors, whilst 61 per cent of men actively chose the profession. It was found that women were more likely to have become landlords after moving in with a partner and renting out their own property or through buying a property for a family member.
Female landlords offer rental properties to a more diverse range of tenants, with 35 per cent happy to let to those on housing benefit, whilst just 25 per cent of male landlords felt the same. Furthermore, a higher number of women felt comfortable letting to pensioners, students and single employed tenants.
Simple Landlords Insurance head of operations, Alexandra Huntley, said: ‘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.’