I’m a 30-year-old landlord with three houses – but I’m still working in a call centre

Kyle Warwick is only 30 and owns three houses across the North East of England, renting two of them out. But he still works in a call centre to make a living. He first stepped onto the property ladder at just 22, before buying his first buy-to-let property three years later, aged 25. Today, his portfolio includes a three-bedroom house in Middlesborough, valued at around £60,000, and a four-bedroom property in Hartlepool, worth approximately £85,000. His own two-bedroom home, also in the North East, is valued at around £60,000, and he has a mortgage on this, and his other two houses. Alongside his full-time job, Kyle is responsible for maintaining his rental properties and dealing with the costs and responsibilities that come with being a landlord. Speaking to The i Paper, he said: “There is often a perception that landlords are wealthy people making significant profits from property, but that certainly isn’t my experience. “After all of the costs and deductions associated with my two rental properties, I make a very small amount. That figure is often wiped out by maintenance and unexpected costs. “Most smaller landlords own just one or two rental properties, so the idea that they are all making substantial profits doesn’t reflect the reality for many of us.” He says the reality is that much of the money generated by his properties is swallowed up by maintenance, unexpected repairs and rising expenses – and fears the latest Budget announcement of further increases to property income tax could make things even more difficult for smaller landlords.Under the changes, property income tax rates will rise by a further two percentage points from April 2027. Combined with the previously announced increase, rates will rise by four percentage points overall, taking the basic rate to 24 per cent, the higher rate to 44 per cent and the additional rate to 49 per cent. While Kyle has no immediate plans to leave the rental market, he understands why some landlords are considering selling up. ‘I’m considering rent increases for the first time’ Working in a call centre while managing his properties, Kyle says the responsibilities can sometimes feel like taking on an entirely separate career. He originally entered the property market at a young age because he wanted to build something that could eventually provide him with a pension and a second source of income. But with mortgage payments, maintenance bills and regulatory requirements continuing to rise, he is now considering increasing the rent he charges for the first time. He explained: “I have personally never increased the rent on my properties, but for the first time I am having to consider doing so because of rising costs, including the recent 4 per cent increase in property income tax.” Kyle believes smaller landlords are increasingly being squeezed by rising costs and tax changes, with little room to absorb further financial pressure. Landlords are increasingly deciding to exit the market, which he says could have consequences for tenants, particularly at a time when demand for rental accommodation remains high. He added: “Basic economics suggests that when supply falls while demand remains strong, rents will increase and competition for available properties will become even greater. “Ultimately, that could make renting less affordable and potentially contribute to more homelessness.” Figures from the Office for National Statistics show that rents in England rose by four per cent year-on-year in September, reaching an average of £1,466. Average rents were highest in London, at £2,338, and lowest in the North East, where Kyle owns his properties, at £790. He argues that policymakers need to consider the longer-term consequences of tax and regulatory changes, rather than introducing further measures without fully understanding how landlords and tenants might respond. What would encourage small landlords to stay? Kyle believes a combination of tax changes and practical reforms could make a significant difference to smaller landlords. These include reducing tax on rental income, allowing mortgage interest to be treated as a deductible expense and simplifying the regulatory requirements landlords must meet. He also wants improvements to the court and eviction system, arguing that landlords need a quicker and more effective way of dealing with serious rent arrears and deliberate property damage. “There needs to be a much quicker and more effective process for resolving these cases, while of course maintaining appropriate protections for tenants,” he said. He added that landlords should not be left carrying substantial financial losses for months while waiting for lengthy court proceedings to conclude. For Kyle, the issue is not about removing protections for tenants, but making sure the system works fairly for both sides. “I don’t believe the Government’s current approach is necessarily achieving what it intends to achieve. In my view, responsible smaller landlords should not be treated as though they are the cause of the housing crisis.”