'Accidental landlord' welcomes property management service

News Category: Management

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A recently redundant sales director has praised the property management service provided by a local letting agent after he started renting for the first time.

Jono Enderby told the Sunday Mirror that he began renting a property after three buyers pulled out just before they were about to sell a property in Wimbledon, London.

After being made redundant, Mr Enderby said his family had no choice but to rent the property because it "proved impossible to sell".

Mr Enderby told the newspaper: "We employ a letting agency to manage the property and they take ten per cent, but it's worth it to avoid the hassle when we're not living around the corner."

The impact of the credit crunch on the UK property market has led to more Britons becoming 'accidental landlords' after being unable to sell their homes in difficult financial times.

A Rics study in November last year attributed the first rise in average rent prices for five-and-a-half years to a glut of new homes entering the residential lettings market from reluctant landlords.

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