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Who Wants to be a Landlord? Factors that Affect the Inclination of Israeli Households to Rent out Property

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Author Info

  • Pnina O. Plaut1

    ()
    (Faculty of Architecture and Town Planing, Technion ¡V Israel Institute of Technology, Haifa 32000 Israel)

  • Steven E. Plaut

    ()
    (Graduate School of Management, University of Haifa, Haifa 31905 Israel.)

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    Abstract

    The supply of rental housing is by and large provided by landlord households. Little is understood about the factors, beyond financial portfolio considerations, that affect the inclination of people or households to become landlords. Studies of the American rental market have pointed to differences across income, wealth, ethnicity, and education in the willingness to rent out residential property to others. Here, we examine the question for Israel. We find that income and wealth are positively associated with the inclination to be a landlord. Education has an effect in Israel in contrast to the US (and Australia). Human capital in Israel appears to complement with rental property capital, unlike the case for the US and Australia, where they appear to be substitutes. In most cases, rental property in Israel and housing capital in the landlord's primary residence appear to be complementary. Ethnic minorities and new immigrants are under-represented among landlords. For households who own rental property, the income from such rentals is empirically analyzed.

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    Bibliographic Info

    Article provided by Asian Real Estate Society in its journal International Real Estate Review.

    Volume (Year): 16 (2013)
    Issue (Month): 1 ()
    Pages: 119-133

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    Handle: RePEc:ire:issued:v:16:n:01:2013:p:119-133

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    Postal: Asia Real Estate Society, 51 Monroe Street, Plaza E-6, Rockville, MD 20850, USA
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    Postal: Asian Real Estate Society, 51 Monroe Street, Plaza E-6, Rockville, MD 20850, USA
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    1. Marietta Haffner & Marja Elsinga & Joris Hoekstra, 2008. "Rent Regulation: The Balance between Private Landlords and Tenants in Six European Countries," European Journal of Housing Policy, Taylor and Francis Journals, vol. 8(2), pages 217-233.
    2. Nordvik, Viggo, 2000. "Tenure flexibility and the supply of private rental housing," Regional Science and Urban Economics, Elsevier, vol. 30(1), pages 59-76, January.
    3. Hans Skifter Andersen, 2008. "Is the Private Rented Sector an Efficient Producer of Housing Service? Private Landlords in Denmark and their Economic Strategies," International Journal of Housing Policy, Taylor & Francis Journals, vol. 8(3), pages 263-286.
    4. de Leeuw, Frank & Ekanem, Nkanta F, 1971. "The Supply of Rental Housing," American Economic Review, American Economic Association, vol. 61(5), pages 806-17, December.
    5. Gau, George W & Wang, Ko, 1994. "The Tax-Induced Holding Periods of Real Estate Investors: Theory and Empirical Evidence," The Journal of Real Estate Finance and Economics, Springer, vol. 8(1), pages 71-85, January.
    6. Gavin A. Wood & Yong Tu, 2004. "Are There Investor Clienteles in Rental Housing?," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 32(3), pages 413-436, 09.
    7. Marietta Haffner & Marja Elsinga & Joris Hoekstra, 2008. "Rent Regulation: The Balance between Private Landlords and Tenants in Six European Countries," International Journal of Housing Policy, Taylor & Francis Journals, vol. 8(2), pages 217-233.
    8. Hans Skifter Andersen, 2008. "Is the Private Rented Sector an Efficient Producer of Housing Service? Private Landlords in Denmark and their Economic Strategies," European Journal of Housing Policy, Taylor and Francis Journals, vol. 8(3), pages 263-286.
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