Landlords told to expect 'wear and tear'

News Category: Management

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Reluctant landlords who have listed their homes to rent have been told to expect some wear and tear.

Alan Ward, chairman of landlord interest group the Residential Landlords Association (RLA), said Britons who have opted to rent out their family homes may have an "emotional attachment" to their property.

However, in comments which could suggest potential demand for property management software, Mr Ward explained that owners of homes to rent need to realise that "rental properties suffer greater wear and tear than owner-occupied ones".

"The landlord has to be prepared to accept this difference," he added.

Figures from FindaProperty.com last month showed that rental prices fell 1.2 per cent after more homeowners entered the residential lettings market after being unable to sell their homes amid the economic downturn.

But RLA data in November found that 89 per cent of landlords planned to maintain their portfolios, with 44 per cent expecting to increase the number of properties they have to rent.

"The market's lower prices mean returns will still look attractive," Mr Ward commented.

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