Inlight of recent figures which demonstrate that increasing numbers of home-owners who cannot sell their properties are becoming ‘accidental landlords’, Belvoir Sheffield, the leading letting agent in Sheffield is advising those new to the market to seek advice.
According to the Co-operative Bank earlier this week, ‘a fifth of its recent buy-to-let business has come from ‘accidental landlords’ – where home owners choose to rent their existing property instead of selling it when they are looking to move to a new home’.
Rick Flay, director at Belvoir Sheffield, which offers a wide range of property to rent in Sheffield, said: “Here at Belvoir Sheffield we are finding that some of those that want to move and are unable to sell their homes are choosing to become landlords at least until the market improves. This does provide a short term solution to the problem and allows these people to move on, but it is leaving an influx of ‘inexperienced landlords’ which is a worrying situation”
Rick,whose Sheffield letting agency, specialises in providing flats to let in Sheffield, added: “In Sheffield, properties are now on the market for around six months before they are sold, making the case for the return of the accidental landlord even stronger.
While of course we are happy to see an increase in the number of landlords, it is vital that every landlord, whether accidental or not, seeks expert advice. Landlords who lack experience and knowledge can find themselves on the wrong end of a dispute or even worse- being prosecuted.
“At Belvoir we offer a full end-to-end managed lettings service for both landlords and tenants,for any type of property, furnished or unfurnished. The first step for anyone considering letting out their own home, or that of a relative, for the first time, is to contact us for an initial, no obligation meeting at which we can go through all of the options open to them,”
Belvoir Lettings Sheffield is the One Stop Specialists for Lettings including Property Management, Tenant Find, Investment and Wealth Management Advice, Fit-outs and Renovations, Furniture Packs and Investment Property Insurances and Mortgages.
