Letting agents 'observe decrease in reluctant landlords'

News Category: Industry News

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Letting agents have identified a growing trend towards a reduction in the number of accidental landlords operating in the market.

Arla states that its members' offices have seen a decrease in the number of properties being rented out because they cannot be sold.

Research by the association reveals that 80 per cent of letting agency offices are now seeing reluctant rental activity of this type occurring, compared to 95 per cent in November 2008.

The body suggested this is a potentially positive sign for the market, particularly in areas such as London and the south-east, where the numbers of reluctant landlords are at their lowest.

However, Ian Potter, operations manager for Arla, says more still needs to be done to ensure such landlords are providing an adequate quality of service.

He said: "Reluctant landlords in the market … need to understand the obligations of a landlord to their tenants and the importance of choosing a regulated and qualified letting agent."

This comes after letting agent LSL Property Services last week revealed that falling numbers of accidental landlords has meant that empty properties are being filled more quickly.

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