'Accidental landlords' rife in lettings market » Housing » 24dash.com

More than 40% of landlords get into the lettings market by accident, according to figures out today.

Research by the National Landlords Association found that although more than half of all members buy with the intention of renting, 42.6% fall into becoming landlords almost by chance.

The largest chunk of 'accidental' landlords are people who bought a property for themselves but decided to let the house out rather than sell it when moving on.

Almost one in ten landlords became so by inheriting property, whilst a further 3% of landlords purchased a house for a family member who subsequently moved on.

David Salusbury, chairman of the National Landlords Association, said: "Our research shows that for a significant minority of people who let out properties, they didn't set out to be landlords.

"In my experience, they often don't see themselves as landlords. Perhaps they own property that they like and then go to live or work abroad, or perhaps they have got married or moved in with their partner.

"They may decide to keep their home as an investment and let it out."

But despite stumbling into the lettings market, 'accidental' landlords must make sure they are up-to-date with the same laws and regulations that cover 'portfolio landlords' who may own dozens of properties, the National Landlords Association warned.

Copyright Press Association 2006