Rise of the ‘accidental landlord’

7 May 2023

London has seen a growing trend for ‘accidental landlords’ in recent years, as more homeowners decide to move their properties to the rental market amid uncertainty in the sector.

The category includes those who  have failed to sell, as well as others who decided to hold out for a better price. As rents have continued to rise, the appeal for those who own property  to place it on the rental market has  certainly grown.

Indeed, one estate agent 13  recently  reported that there were around  35% more rental properties on the market compared to a year earlier. Whether these ‘accidental landlords’  will stay in the sector longer term remains to be seen.

  1. Chestertons, 2022

🚨 Data accurate as of the date of publication –……

🚨Think carefully before securing debts against your home.  Your home may be repossessed if you do not keep up repayments on your mortgage.

🚨 The above material is for informational purposes only and does not constitute a sales offer or financial advice. Before taking out any insurance, credit agreement or other financial product, you should obtain individual advice on your requirements and the general terms of the contract.

 

Source: Quilter Financial Planning – Essentially Mortgages Q1 2023

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