Arla: Trend for reluctant landlords may be decreasing
Date posted: 03 Sep 2009
The amount of people becoming reluctant landlords because they cannot sell their properties may be reducing, an industry body suggests.
According to figures from the Association of Residential Letting Agents (Arla), the number of its members' offices seeing property being rented rather than sold has fallen to 80 per cent, a marked decreased on the 95 per cent recorded in November of last year.
The amount of people becoming reluctant landlords because they cannot sell their properties may be reducing, an industry body suggests.
According to figures from the Association of Residential Letting Agents (Arla), the number of its members'' offices seeing property being rented rather than sold has fallen to 80 per cent, a marked decreased on the 95 per cent recorded in November of last year.
Ian Potter, operations manager at the association, said: "Many sellers were left with little option other than to rent their properties out earlier in the year but this trend seems to be slowly diminishing."
However, Mr Potter added that those who continue to rent out their properties until the housing market recovers should ensure they are aware of letting sector regulations.
Arla has also welcomed the launch of a new landlord register by the National Landlords Association (NLA).
The NLA is hoping the database will provide tenants with more certainty about the credentials of prospective landlords.
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