Reluctant landlords in decline

According to ARLA (the Association of Residential Letting Agents) there has been a decline in the number of ‘reluctant’ landlords or landlords who rent out their property as they cannot sell it.

In November 2008, 95% of ARLA members’ offices reported that they had seen property rented out rather than sold.

The figure now stands at 80%.

The number of family houses being rented has decreased significantly since November last year but the number of flat and studio rentals have increased.

Operations Manager of ARLA, Ian Potter, commented ‘There are, however, still a huge number of these reluctant landlords in the market who need to understand the obligations of a landlord to their tenants and the importance of choosing a regulated and qualified letting agent.’

There is also the need to consider landlords insurance. Some landlords consider that home insurance is appropriate for rental properties. It is not.

You can buy landlords insurance online, quickly and and easily.

Our article ‘Landlords insurance – why is it needed?‘ may be useful.