RETIRING is the most common reason for becoming a landlord, according to a new study.

The study, by Hargreaves Lansdown, found that most full-time landlords consider the role a long-term alternative to a pension.

"Being a landlord can be costly with stamp duty, legal fees and ongoing maintenance all stacking up over time," Hargreaves Lansdown senior retirement analyst Helen Morrissey explained.

It comes as the government's English Private Landlord Survey, published yesterday, noted that, despite costs, becoming a private landlord remains increasingly attractive.

The survey found the number of privately rented homes soared by 45 per cent over the past 12 years.

Despite many using rent to fund retirement, the most common relief landlords offered tenants in need during the pandemic was to cut rents.

(c) 2022 City A.M., source Newspaper