Reluctant landlords make a comeback

The 'reluctant landlord' - a phenomenon that emerged during the recession as home owners were forced to let their property rather than sell it - has returned to the rental market, according to ARLA.

ARLA's research revealed that 34% of member offices in the third quarter of this year experienced an increase in the number of rental properties coming on to the market because they can't be sold. This figure was an increase from 19% in Q2 of this year.

There was variation across the UK in the number of agents reporting this trend, with 58% of agents in the North-East reporting an increase in reluctant landlords, compared with 15% in central London.

The number of reluctant landlords peaked during the recession at the beginning of 2009, when 94% of agents surveyed reported an increase of property coming on to the rental market because it could not be sold.

Ian Potter, operations manager at ARLA, said: "The rise of the reluctant landlord seems to reflect wider market uncertainty and instability."

To view the Q3 2010 ARLA Review and Index, visit: www.arla.co.uk/q3ri


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