If you read property news regularly you may have noticed a surge in stories about landlords leaving the sector in biblical proportions.
We all know the downsides of being a landlord, but the health benefits are very rarely bought up. This month, for a refreshing change, we’re looking at why being a landlord is good for your health.
Helping Others is Good for You
Most of us get a kick out of helping other people and being a landlord, you are providing the ultimate form of help. A roof over our heads is one of the most fundamental things we need as humans. As a landlord it’s an awesome responsibility and a humbling thing to get right. Every time you house a tenant, you’re providing them with a safe space to live in.
Aside from a warm fuzzy feeling, helping others has been shown to reduce chronic pain, lower blood pressure and give you a sense of purpose.
Advancing Your Career Can Make You Happy
Around 66% of landlords also have full or part time jobs. If you are one of them, chances are your landlord skills will help you land a promotion or a better career.
Managing properties requires attention to detail, good people management skills, financial management, project management and a whole host of other transferable skills that are sure to impress potential employers.
If you can demonstrate to a potential employer that you’ve grown a property business that could further your career. Landing a promotion can have far reaching health benefits including increased self-esteem and confidence.
More Money Equals More Health
Money is one of the most obvious reasons for becoming a landlord, property generally represents an investment, so this isn’t surprising. It’s long been thought that the wealthy are healthy, it makes sense. When you don’t have money worries you benefit from decreased stress levels and a wealthier lifestyle is usually a healthier one.
Those with more money can afford better living conditions, a wider range of healthier foods, exercise or other health equipment, better education and other things that can contribute to better physical and mental health.
The more money you have the more people you can help. As your property empire grows you may need to employ others, you’ll buy more properties, house more tenants and in turn you’ll experience the continued health benefits of helping others.
If you’ve got more money, you have more control over how you spend your time. You can afford to hire people to help you at home and in work, you can afford holidays and if you’re earning enough you can choose to go part time in work or to give up work altogether. All of this contributes to healthier and happier lifestyles.
Work Life Balance Reduces Stress
The benefits of maintaining a work life balance are undisputed, because running a property business is usually a lot less hassle than running other types of business, being a landlord results in a better work life balance which means physical and mental benefits galore.
It’s not completely hands off though, there will be occasional repairs and admin work, but if your property is in good shape, you’ve got happy tenants and your finances are kept in order your properties can represent a low maintenance investment leaving you more time to do whatever makes you happy.
Long Term Security is Essential to Health and Wellbeing
Without financial security, you’ll experience increased stress which has numerous negative effects on our health.
But if you’re a landlord you have an ongoing income which can be saved as a pension, or for “a rainy day”. If you are a landlord with a job, you’ve got more than one stream of income. If you lose your job, then you have property income to rely on. And should the worst happen, you’ve got an asset that you can cash in or a house you can live in.
If you are thinking about becoming a landlord, why not give the Pymm & Co Lettings experienced team a call on 01603 305805 for some free advice. If you already have a property to rent out then you can get a FREE VALUATION from one of our Pymm & Co expert property valuers.