Rise of the 'Accidental Landlord'

Are you...

Are you a Landlord but not sure how it happened?? You could be one of the increasing numbers of 'accidental Landlords'.  Professional landlords might be coining it in during this period of record rents, but what about that growing army of amateur – or ‘accidental' – landlords? They could be an owner-occupier who has ended up letting a property out as a result of circumstance, or they simply don't want to sell.

An  interesting finding from Rightmoves Rental Market Forcast, released earlier this week, was that one in eight accidental landlords have found their unplanned, and in most cases unwanted, foray into property letting so rewarding that they now want to build a portfolio by purchasing another home to rent out.

According to Rightmove's figures accidental landlords make up around 30% of all landlords and are largely seen as a casualty of the credit crunch. However, rising rents and lack of voids have alleviated their plight to such an extent that when asked what their plans are for their current rental property, 12% of this group responded that it had gone so well that they are looking to buy another property, with a further 69% reporting that we would be holding onto their rental property and just 16% stating that they still want to sell it as soon they can.

Barbara our Lettings Manager Comments: ‘ It seems although these Landlords who have not stepped onto the rental market by choice,  have survived and are reaping the benefits with many of our ‘accidental Landlords' wanting advice about other buy to let opportunities! The growth in rental demand and appeal of the buy-to-let sector to lenders has helped turn a chance encounter with the rental market into a further and valuable source of fresh supply to satisfy the demand'

Are you an accidental Landlord and need advice? Contact Barbara today!

PLUS it's Mad March so you are guaranteed to get an unbeatable deal on Fee's !!!