CompleteLandlord.com Survey Profiles “Accidental” Landlords
-- 17 Percent of Landlords Didn’t Initially Intend to Rent Out Their Properties.
CHICAGO, April 27, 2007 – CompleteLandlord.com, the online destination for residential landlords and real estate investors, recently surveyed three hundred residential landlords across the country. The survey results showed nearly one out of five landlords did not intend to rent out their property when they purchased it. Not surprisingly, 67 percent of these “accidental” landlords only own one property. This contrasts with 81 percent of intentional landlords who own two or more properties.
The profile of accidental landlords varies markedly from intentional landlords in terms of their plans to buy and sell property:
- Thirty five percent of accidental landlords report they are likely to sell their properties in less than five years, while only 14 percent of intentional landlords report planning to sell their properties in the next five years
- Fifty nine percent of accidental landlords are considering purchasing more property within the next five years. This contrasts with 70 percent of intentional landlords that are considering purchasing more property within the next five years.
In terms of raising rents, accidental landlords are less likely to have raised rents in the past year or to do so next year. Forty seven percent of accidental landlords raised rents last year, compared to 58 percent of intentional landlords. Fifty five percent of accidental landlords plan to raise rents next year, compared with 69 percent of intentional landlords who plan to raise rents.
Scott Brueggeman is CompleteLandlord.com’s publisher. According to Brueggeman, “We know from our research nearly 70 percent of landlords have full-time jobs, in addition to their landlord duties. New and accidental landlords have the steepest learning curve since they have recently been thrust into this role. The survey helps us identify who these accidental landlords are and what type of help they need to be successful. For example, we offer a free 50-page special report entitled “Rental Property Management Secrets for Landlords” that provides hundreds of time-saving tips that can be downloaded at no cost on our site.”
CompleteLandlord.com’s goal is to give the estimated 10 million small and medium-sized landlords in the U.S. the information, tools, products, services and community they need to be successful. The Web site provides landlords, for free and with paid access, information, tools and community related to the complete lifecycle of owning, leasing, maintaining, and selling rental properties. The site offers how-to information and tips for landlords, including forms, tenant screening, best practices, financial guides, real estate regulations, and advice.
About CompleteLandlord.com:
CompleteLandlord.com provides an online solution for tens of thousands of landlords wanting to manage their rental properties productively and profitably. The Web site provides free educational content, advice from other landlords, the ability to tap into a panel of real estate experts, or access online state-specific products and services. Based in Chicago, Illinois, CompleteLandlord.com is part of the family of brands from Socrates Media, LLC. The company has helped hundreds of thousands of landlords be more profitable and productive with their rental units.
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