ALMOST 100,000 properties in the north are now owned by private landlords new figures show.
Information obtained by the Chartered Institute of Housing (CIH) show that almost 49,000 landlords have now registered just over 97,000 properties across Northern Ireland.
At an average of 1.98 properties per landlord, private rented accommodation now accounts for approximately 20 per cent of total housing stock in Northern Ireland.
All private landlords operating in Northern Ireland, are now legally required to register with the government’s Landlord Registration Scheme; this scheme not only aims to improve tenants’ confidence in their landlords by promoting good practice, it also helps to provide a real time breakdown of the private rental market across the various different council districts.
Trevor Wright from CIH said the figures showed most private landlords in Northern Ireland are part-time, operating on a very small scale.
"With the average landlord now owning just shy of two properties, the private rented sector is becoming an increasingly important part of the overall property market here in Northern Ireland. As a result, it is imperative that work continues to be done in terms of setting out, monitoring, and maintaining standards, for the benefit of everyone living and working in the sector."
"There appears to be a common public misconception that many landlords in Northern Ireland are professional landlords with large portfolios of properties. In reality, these figures show that the opposite is true, and the average landlord juggles tenancy management with another full-time profession. This presents a real challenge when it comes to professionalising the sector," he added.
