Accidental landlords trapped in the buy-to-let market?
Increasing numbers of ‘accidental landlords’ are remaining in the buy-to-let market rather than trying to sell their properties, says Landlord Assist, the tenant eviction and rent collection firm.
‘Accidental landlords’ was a phrase coined during the height of the recession for homeowners who rented out their properties instead of selling them at a lower price or potential loss.
Landlord Assist says this influx of accidental landlords played a pivotal role in helping to address the shortage of accommodation at the height of the recession as more people opted to rent than ever before.
Earlier this year the firm expressed concerns that an exodus of accidental landlords may hit the supply of quality rented accommodation in the rental market, especially at a time when the sector is experiencing overwhelming demand.
But now it seems that many accidental landlords are remaining in the industry for a prolonged period of time – certainly longer than originally envisaged.
Read the full story at Mortgage Finance Gazette
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