Many starting to let their second homes

People who own second homes may soon find they are drawing up a holiday let agreement or a property inventory, according to one company.

The Holiday Cottages Group has claimed that some second home owners are being driven to the holiday letting market because of financial concerns.

This may be because they have inherited the property or because they purchased it and have now found that renting it out will provide them with some extra income.

Simon Law , vice president of Property Recruitment within the Holiday Cottages Group, thinks it is likely that the letting of a second home will accelerate.

"Those people now with more concerns on the horizon are thinking that getting some proper rental income is a desirable thing to do," he said.

The National Landlords Association recently reported that 71 per cent of landlords expect rental arrears to increase in 2009.

Published on: December 22, 2008

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