Turning a landlord for the first time?
January 10, 2012
Tim Hyatt, President of the Associate of Letting Agents quotes:
“Letting a property is an excellent way of generating consistent income from your property, if the correct approach is adopted by prospective landlords,” said ARLA President Tim Hyatt.
“Lettings is an unregulated industry and there can be pitfalls for both landlord and tenant, including loss of monies. While we are, of course, happy to see an increase in the number of landlords, it is vital that every landlord – reluctant or keen – seeks expert advice before embarking on a rental arrangement.
“In particular, we would advise anyone considering renting or letting a property, to consult a licensed ARLA member. Licensed agents have to adhere to a strict code of conduct, and must have a number of consumer protection mechanisms in place, meaning that if things do go wrong, there is a way to seek redress.”
ARLA agents report that the most likely types of home to be brought to market by a reluctant landlord are detached and semi-detached houses, while least likely are studio flats.
