Rented sector sees 'accidental landlord' numbers rise
The rental property market has seen more and more so-called accidental landlords join in recent months, it has been suggested.
According to price comparison website Moneysupermarket.com, many people have opted to rent out their homes while waiting to see if the housing market recovers, allowing them to sell for an inflated price later on.
Recent research from industry bodies such as the Association of Residential Letting Agents has also uncovered similar findings.
One other reason why newcomers are joining the rental market as landlords is to make money in tough economic times.
Unemployment figures surpassed two million in March and they are expected to increase this year - renting out property is seen as a good way of boosting cash-flow in such circumstances.
Head of home and motor insurance at Moneysupermarket.com Steve Sweeney said letting out a property "may seem like an attractive way to source extra income in the current climate".
However, he added: "I urge anyone looking to jump on the landlord band-wagon for extra cash to proceed with caution."
Written by Jessica Telford
Published 1st June, 2009
© 2009 Estates IT Limited
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The economic problems encountered by the UK in recent months have resulted in a number of inexperienced landlords joining the rental market.