Big Changes In Store For UK Private Rental Sector
UK PRS Set For Change As Accidental Landlords Sell Up
The rental market in the UK could be significantly impacted in the event of a mass departure of inexperienced and accidental landlords from the sector.
This is the suggestion of Chairman of the Residential Landlords Association, (RLA), Alan Ward, who noted the proprietors forced into this position as a result of their inability to sell property.
Mr Ward said: “Some people say there are over 100,000 properties in the Private Rented Sector and, if they come back on the UK market, then that is quite a big change. Confidence among landlords regarding 2012 is likely to be dependent on the equity position of borrowers, as proprietors continue to demand substantial deposits”.
Accidental and inexperienced landlords are likely to begin offloading their residential properties as UK house prices begin to escalate.
Recent findings by leading UK property website Zoopla showed that buying property is still a more cost-effective option than renting in 47 of the 50 biggest towns across the UK.
Landlords with rental properties are urged not to give in too easily and persevere to make their property rental business a success in 2012.
Legal 4 Landlords spokesman Sim Sekhon said: ” As landlords ourselves we know things can get tough sometimes, that’s one of the reasons why Legal 4 Landlords has expanded its wide range of services for UK landlords. We have been working hard with our partners to deliver an excellent Rent Guarantee Insurance product for UK BTL Landlords, now, keeping the cash flowing in has never been easier”.
