Insurance News Archive
Four in ten becoming landlords by chance
A large proportion of landlords did not buy their first rental property with the intention of letting it out, new research has suggested.
According to the National Landlords Association (NLA), over two fifths of homeowners came into the residential letting market by chance.
Of those surveyed, some 20 per cent said their first residential letting was a property they already owned but decided to let out rather than sell.
Some nine per cent of respondents inherited their first property and decided to let it out rather than sell.
David Salusbury, chairman of the NLA, said that it was essential that landlords understood that "in the eyes of the law they are subject to the same laws and regulations as the portfolio landlord".
These include adhering to gas and electrical regulations, the safety of furniture and furnishings, the provisions of the various landlord and tenant acts and licensing of Houses in Multiple Occupation, among others.
17 Oct 2006