Editor's note: This brief was summarised by The Property AI Team from a report by Property118. Read the original article for full details.
Inheritance boom could create more landlords, says estate agent
An inheritance boom could create a new generation of landlords as wealth passes between generations, according to one firm. John Minnis estate agents says that for homeowners receiving a substantial sum, buying a property to let could become one of their options.
The firm points to Resolution Foundation research showing that around 670,000 adults received an inheritance. The source does not specify the period covered by that figure or the size of the sums involved.
For letting agents and inventory clerks, the suggestion is that a wave of inheritance-driven investment could bring new landlords into the private rented sector.
The source does not include any further detail on how many of those receiving an inheritance might choose to invest in property, nor does it set out any regional breakdown or timescale. It also does not include any direct quotes from John Minnis estate agents or from the Resolution Foundation.
Source: Property118