Number of unplanned lettings increased, says Arla

09 January 2012

There has been an increase in the number of unplanned lettings in the buy to let sector, new research has revealed.

Data from the Association of Residential Letting Agents (Arla) found 47 per cent of its agents saw more people entering the private rental sector because they were unable to sell their property in the third quarter of 2011.

This was up from the figure of 40 per cent recorded at the beginning of the year.

While some people became landlords because they could not sell their home, others were waiting until the market improves and they can get a higher price, Arla stated.

President of the organisation Tim Hyatt said: "Letting a property is an excellent way of generating consistent income from your property, if the correct approach is adopted by prospective landlords."

At the end of last month, Residential Landlords Association chairman Alan Ward predicted there will be a significant change in the market if this trend continues.

Written by Jeni Browne