Recession 'could lead to more reluctant landlords'

News Category: Industry News

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A new survey has predicted that a double-dip recession would result in a rise in the number of reluctant landlords in the private rented sector.

According to a poll by More Than Business, as many as ten per cent of homeowners think they would have to downsize and rent out their property should another economic crisis occur.

"With three-quarters of homeowners not having adequate knowledge of the legal responsibilities involved in being a landlord, we would urge people to carefully plan their actions and not to make any rushed decisions," commented Mike Bowman, the head of More Than Business.

Almost half of those people who said they would be willing to become a landlord stated that it would be until the market recovers, while more than a quarter said it would be to pay off existing debts.

Earlier this month, a spokesman for The Dispute Service stated that many tenants are not aware of the regulations letting agents and landlords are required to abide by when renting out properties. 

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