The housing market crash has lead to a swift rise in reluctant landlords, forced to let out their homes because they cannot sell, according to the Association of Residential Letting Agents (ARLA).
Research by ARLA has revealed that during Q3 2010 34% of its members saw a leap in the number of rental properties coming to market because they cannot be sold, causing an influx of former privately owned homes.
Ian Potter, operations manager at ARLA, said: “While homeowners forced to let out their home can reap significant benefits by holding on onto their property, becoming a landlord for the first time can be a stressful experience.
“Successful letting isn’t simply about finding a tenant, signing a contract and handing over the keys. There are important steps every landlord should take when letting out a property that was once their home.”
