LANDLORDS regard their property portfolio as an important part of their post-retirement income, as their confidence in the economy slumps to an all-time low.

A survey by the National Landlords' Association (NLA) has found 81 per cent of landlords expect to rely on their portfolio to help them financially after they stop working.

This follows news that the number of savers contributing to pensions dropped by eight in the last ten years – from 46 per cent to 38 per cent of all employees.

The NLA survey also found that landlords are increasingly pessimistic about the UK economy, with confidence dropping to a record low of just three points, down from 11 points one year ago.

David Salusbury, chairman of the National Landlords' Association, said: "Landlord confidence in the financial market is at an all-time low. This, combined with record low interest rates, means that many individuals are looking for alternative ways to secure their financial future.

"Private residential property can be a sound long-term investment for those planning their retirement.

"But potential landlords must realise that letting property is a lot more complicated than contributing to a pension.

"Becoming a landlord is just like starting any other small business. Anyone considering using property to bolster their pension plans must make sure that they put together a long-term business plan, taking account of the various regulations governing the letting of property, as well as their responsibility to tenants."