Tenants could benefit from 'inexperienced landlords'

21 2008
Tenants across the country may be able to benefit from affordable rents as growing numbers of homeowners are forced to become landlords despite lacking experience in the property sector.

With the Association of Residential Letting Agents having recently revealed that the private rental sector in the UK has grown to be worth £500 billion, making it more valuable than the commercial property market, estate agents have pointed out that many new landlords have overly-optimistic hopes for their investments, with many likely to put their rents down in line with market expectations.

"Many of our new landlords are not entering the lettings market by choice and they have a great deal to learn about the business," Lynn Hilton, a partner at Cluttons estate agents told the Daily Telegraph. .

This comes as it is anticipated that some £300 million worth of fixed-rate mortgages are due to come to an end over the next few months, with separate reports showing that many homeowners many look into renting rooms out to tenants in order to meet their commitments.
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