Diving in at the ‘Bottom End’: The Risk Awareness and Risk Management Practices of Sub £65K Landlords

Q2 Social Sciences

Critical Housing Analysis Pub Date : 2022-12-26 DOI:10.13060/23362839.2022.9.2.545

A. Watson

引用次数: 0

Abstract

Significant growth in Scotland’s private rented sector over the last 25 years has been led by a large number of individual lay investors/landlords who each own a smattering of properties. These characteristics, which are replicated in several countries where neoliberal housing policies prevail, have implications for the efficacy of PRS investments, but also for conditions and the stability of investment patterns within the sector. This study examines landlord investment risk awareness and behaviours via qualitative interviews with a small sample of Scottish landlords operating at the ‘bottom end’ of the market, which is disproportionately home to vulnerable groups and where some investment risks are believed to be more acute. The findings suggest that some landlords have relatively low levels of risk awareness, fail to adequately consider risk prior to investing in the PRS, have mixed success in selecting and implementing risk management and mitigation strategies, and incur significant risk-borne costs, which can limit returns.

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潜入“底层”:低于6.5万英镑的房东的风险意识和风险管理实践

在过去的25年里，苏格兰私人租赁行业的显著增长是由大量个人非专业投资者/房东引领的，他们每个人都拥有少量房产。这些特点在新自由主义住房政策盛行的几个国家也有体现，不仅影响到减贫投资的效力，而且影响到该部门内投资模式的条件和稳定性。本研究通过对在市场“底层”经营的苏格兰房东的小样本进行定性访谈，考察了房东的投资风险意识和行为，这些房东不成比例地居住在弱势群体中，并且一些投资风险被认为更严重。研究结果表明，一些房东的风险意识水平相对较低，在投资PRS之前没有充分考虑风险，在选择和实施风险管理和缓解策略方面成败参半，并且产生了巨大的风险承担成本，这可能会限制回报。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Critical Housing Analysis Social Sciences-Sociology and Political Science

CiteScore

2.70

自引率

0.00%

发文量

期刊介绍： Critical Housing Analysis is a peer-reviewed academic journal focusing on critical and innovative housing research. The journal was launched in January 2014 and publishes two online issues annually. Critical Housing Analysis is published by the Institute of Sociology of the Czech Academy of Sciences. Critical Housing Analysis aims to provide on-line discussion space for researchers who come up with innovative, critical and challenging ideas and approaches in housing-related research. The unique function of this journal is to facilitate rapid feedback on critical and innovative ideas and methods developed by housing researchers around the world. We are especially keen to publish papers that provide: 1.Innovations in methods, theories and practices used in housing-related research. We especially welcome papers applying original research strategies (such as, mixed and interdisciplinary methods) and international comparisons with a strong sense for contextual and institutional differences. Papers should provide new and fresh research perspectives allowing a deeper understanding of housing markets, policies and systems. Innovations need to be justified but they could be “work in progress”, i.e. their findings may not yet have been fully verified. 2.Critiques of assumptions, methods and theories used in housing-related research. Such critical evaluations must be well-founded (empirically or by consistently logical argument) and convincing. However, there is no particular need to provide a solution to the problems that have been identified. 3.Critiques of applied housing practices and policies in particular cultural and institutional contexts, especially for those countries that are less represented in mainstream housing policy discourse. The critical assessment of policies must be analytical, should propose new perspectives and lead to wider policy implications.