Reduction in reluctant buy to let landlords reported

30 October 2009

Written by David Whittaker

There has been a reduction in the number of so-called reluctant buy to let landlords, according to new research from the Association of Residential Letting Agents (Arla).

Whereas 95 per cent of Arla members' offices reported that property was being rented out instead of sold in the first quarter of 2009, this figure fell to 60 per cent in the third quarter of the year.

Data from the study and the latest Royal Institution of Chartered Surveyors research showing that demand for buy to let property grew in the three months to September prompted Arla the operations manager to suggest movement is occurring across the sector.

Ian Potter also claimed that both experienced property professionals and accidental landlords must ensure that they are aware of their obligations to tenants.

They must also know "the importance of choosing a regulated and qualified letting agent", he added.

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