The new year could bring the kind of market that many accidental landlords have been waiting for.
With home values estimated to rise further in 2012, Alan Ward, chairman at the Residential Landlords Association (RLA), believes that the time to sell up as originally planned will have finally come.
An accidental landlord is someone who has opted to rent out their existing home when looking to move because trying to sell it would hold back their journey up the property ladder (officially termed let-to-buy in the mortgage industry).
"There is a sector of the market that is likely to come to sell as property values begin to increase - these are the accidental landlords who have been forced to rent because they can't sell for whatever reason," he said."Some people say there are 100,000 properties in that sector and, if that comes back on the market, then that is quite a big change."
The Association of Residential Lettings Agents recently advised anyone considering a move into the rental market to consider the benefits of using a professional letting agent.
Landlord and Tenant News
Tuesday, 3 January 2012
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