The Rise of ‘Accidental Landlords’
Have you struggled to sell your home within the last 12 months? You’re not alone! Many people across the UK have found it impossible to receive a quick sale on their property which has led them to become ‘accidental landlords’.
When circumstances change in a situation and a fast property sale is necessary it can often be unlikely for a house to be sold within a specific time period. The number of people who are failing to quickly sell their home is on the rise, which is leading to people choosing other options such as renting out their properties instead.
The number of properties that were put up for rent in 2017 after failing to sell has reached a staggering 80,000 from the previous year. From this number it’s clear to understand just how many more people are choosing to rent rather than buy. That figure which has grown within the past 3 years looked at properties across Britain which have been listed to rent after being put up for sale within just six months.
Sam Humphreys, managing director of Lime Property has commented by saying that “Although many people decide to be in the property business by choice, there has been a large rise of people who are letting out a property which they had formerly tried to sell. With low mortgage rates, it means sellers can afford to let out their home until they decide to put it back on the property market in the future.”
At Lime, we strive to attract the best landlords and the best tenants. We consistently try to ensure we stay ahead of the pack, with innovative marketing, an unprecedented attention to detail and our absolute devotion to great customer service. According to the market leading property search engine, Right Move, we regularly rank #1 in the region for lets agreed and more.
Are you struggling to sell your home and interested in becoming a landlord? Contact us today on 01482 216060 or pop in to our office for a coffee & a chat!