The National Landlords Association (NLA), the largest national body for private-residential landlords, has today said that the new breed of ‘reluctant landlords’ poses a major risk to the overall health of the British rental market.

Housefund.co.uk – Wednesday, November 19th, 2008

Research published by the NLA has shown that the number of new landlord instructions to let in quarter three 2008 has grown at the fastest pace since records began. 56 per cent more surveyors reported a rise in new instructions than a fall, as compared to 45 per cent in quarter two. The research also shows that the growth in new instructions was significantly stronger for houses than flats.

This glut of new landlords, letting out their own properties to avoid selling at a loss, enter the lettings business with some reluctance in the hope it will only be for the short-term. However, given the current economic outlook, it is quite possible that these ‘reluctant landlords’ may have to rent their properties for a much longer period in order to see decent capital growth.

Before taking the plunge, potential landlords need to be well prepared. There a number of serious issues which, if not investigated properly, could leave them in financial difficulties as well as risking the well-being of their tenants. Full Article