Insurance News Archive
Rental demand 'remains high'
Demand for rented accommodation remains high across the UK as it becomes increasingly difficult to get a mortgage, it has been claimed.
The National Landlords Association (NLA) maintained that many "accidental landlords" have entered the market because they can not find buyers for their home.
Steven Hilton, NLA media relations manager, 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 added that such people must make sure they keep to rules and regulations set out or they will be penalised.
According to the Royal Institute of Chartered Surveyors October 2008 residential survey, growth in new constructions outpaced that of tenant demand and rents fell for the first time since April 2003 as forecasts dropped to the lowest level on record.
It added that in the three months to October, continued house price falls and tightened lending conditions turned would be buyers and sellers to the rental market.
19 Nov 2008
