The idea that landlords have risk free income is nonsense. Ever owned rental property? You have to maintain and repair it, peridocially update it, market it, insure it, compete with other similar properties for tenants, and hope that the tenants actually pay the rent and don't damage it beyond the value of their deposit. You have to hope that your neighbor landlords and owners do the same so that overall property values in the area don't decline. And that supply of housing doesn't grow to the point that you cannot maintain your investment with the rent you are able to charge. If you can't find a new tennant when the previous one leaves, you still have to cover all your taxes, insurance, and loan payments. Yes, the supply of land in any area is limited. This is like almost any other "free market" product. The fact that land supply is finite does not in any sense mean land ownership is a monopoly. The only monopoly owner of land is the government (emminent domain).
Most of what you describe can be subcontracted to a property management company, and you can still make a healthy return.
One of the problems with the rental market in urban centres like London at the moment is that even totally inept landlords can stay in business and make a profit through capital gains alone.
