Accidental landlords 'could be on the increase'

The UK could see an increase in the number of 'accidental landlords' entering the property industry, it has been suggested.

The National Landlords Association (NLA) believes that because of the lack of finances now being experienced by many people in the UK, it is becoming more difficult for property owners to sell their homes.

Therefore, they are being turned into accidental landlords as they have to rent their properties instead.

Steven Hilton, media relations manager for the NLA, said: "This can lead to problems as inexperienced landlords, who take a short-term view to letting their properties, could find themselves out of their depth."

He also reminded anyone who does find themselves in this position that there are many rules and regulations which landlords must adhere to if they do not want to face paying heavy fines.

According to the NLA, an inexperienced landlord should make sure they have permission from the bank or building society to let out their property.

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Published on: November 21, 2008

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