Research conducted by Rightmove has found that one in eight accidental landlords have now decided that they wish to build a property portfolio as a result of the success of renting out their own house.
Over the last few years, as the sellers market slowed down, more and more people have become ‘accidental landlords’: landlords not through choice but through circumstance. As people struggled to sell their property in the last few years, they turned to renting their property out in order to move on themselves.
However, research conducted by Rightmove has found that one in eight accidental landlords have now decided that they wish to build a property portfolio as a result of the success of renting out their own house.
For a quick move, renting out a property is ideal as there is a constant stream of prospective tenants out and about looking for a home. Within our own Property Management department we found that even into December and over the New Year, many people were still looking for somewhere to rent, not deterred by the festive season. There can be a constant demand from tenants as ultimately regardless of the current economic climate and the time of year people still need to look for a home!
It has been recognised that this ‘structural shift’ in the housing market over the last few years has served to benefit accidental landlords. Many people who are struggling to get their foot on the property ladder are obviously turning to renting instead and more and more property owners are recognising the benefits of renting in at least the short-term but potentially longer too.
Therefore, if you have considered purchasing a property and becoming a first time landlord or even if you have a house you have been looking to sell, but are considering joining the ranks of accidental landlords then renting could be a viable option to look into.
Contact our Property Management team today on 0161 626 6800 to arrange a rental valuation of your property.
Becoming an accidental Landlord may be the route for you!