Accidental Landlords rise by 25%!
Wednesday 6th May 2009
Homeowners turning their homes into a buy-to-let properties appears to be the latest craze to hit the property market during the last 8 months.
According to a report published by the National Landlords Association (NLA), the number of ‘accidental landlords’ who have come onto the property market during 2008 has risen by 25%.
And who can blame them.
With property sales still down at 60,000 last month, choosing to take your property off the market and transform it into a rental property has proven to be a profitable avenue for many homeowners.
‘Accidental Landlords’ – what are they?
Accidental landlords are essentially homeowners who have: recognised the rate at which property prices are falling; have chosen to keep a hold of their homes and have instead chosen to turn them into rental accommodation, whilst becoming a tenants themselves.
Through renting out their own properties, the positive cash flow they generate helps them to pay their own rental costs, but more importantly enables them to move home.
Surely it is not that simple?
Whilst the buy-to-let market has flourished during the last 12 months, entering into the property market unprepared has resulted in some ‘accidental landlords’ witnessing rental reductions of 20-30% per week.* A cut that has left many struggling to cover their costs.
Yet it doesn’t have to be this way.
At Property Mentor they can give you the training, the insight and the qualifications you need to ensure that your properties are making maximum profits each and every month, whilst supplementing your income.
The NVQ Level 3 in Business Start-up from PropertyMentor is designed to give you the qualifications, the accreditations and the reassurance you need to help you avoid becoming another ‘accidental landlord’ and ensure that you realise profits of £500+ from your property.
Interested in learning how the unique property investment system can help you to transform your property into an ever accumulating asset? Why not attend one of the 2 hour taster sessions to find out more.