Thank you to all the members who completed our recent survey, your effort is greatly appreciated. IPOA surveys allow us to provide hard numbers on opinions and behaviors which can in turn be used to make important decisions.
Age Profile of Landlord?
50% of survey respondents indicated that they were in the 61-75 age category. Just over 25% of respondents were aged 51-60, 1.6% were between the ageas of 31 -40 and 8.1% in the 41 – 50 age category and 14.5% were over 75.
We had no respondents under the age of 30 years of age.
How Many Properties Are Owned?
87% of respondents have more than one property with just over 29% owning between 5 to 10 properties and 11.29% with 20+ properties. Just shy of 20% have 2 properties with 12.90% owning just one property.
Rate of Rent & Exit Strategy
71% indicated they were letting below market rent.
70% of respondents have been letting property for over 20 years. Interestingly 9% intended to exit the sector within the year and 44% intended to exit within a 5 year period.
Dispute Resolution
35% of respondents have had a case with the RTB.
Where awards were in the favor of the Landlord 70% received nothing, 30% received some of the amount awarded to them and nobody received all of the amount awarded to them.
Other questions informed us that:
84% of respondents purchased property to provide an income for retirement.
19% of respondents were in Negative Equity.
31% of respondents were sub-venting the mortgage from other income.