One in five – 20 per cent – said that legislation was the most challenging aspect of becoming a landlord, more so than finding a suitable tenant. It is believed that falling house prices over the last 12 months have led to a deluge
of new landlords in the private rented sector.
Many of these landlords can be deemed ‘accidental’ – homeowners who would rather have sold up but who could not stomach making a loss on their property.
Kevin Firth, director of The Deposit Protection Service, said: “The private rented sector has held up relatively well and becoming a landlord can be a wise decision for many people.
“However it is vital that new landlords take time and appropriate advice to learn about their statutory obligations – of which there are many. At the DPS we frequently hear from landlords who claim not to be aware of deposit protection
legislation, for example.
“A bit of research and careful planning will ensure that accidental landlords do not get themselves into trouble – your local landlord association is always a good source of information.”
Have your say on this story using the comment section below.