The Accidental Landlord

There are many situations that arise where people find themselves in a position where they become an Accidental Landlord. Some Landlords clients will want to return to their home and will want a good tenant who will keep the place in good order, especially if the furniture has been left in the property. They have been forced by situations often beyond their control to make a conscious decision to become a landlord.

The Agent or Landlord must make sure the Tenancy agreement used contains a clause such as ours "The Landlord confirms that at some time before the start of this tenancy, the Landlord lived in the Property as his/her only or main home and clause 7.3 applies in whole. Tick and sign here if applies"

Accidental Landlords are often wiser in the short term, to use a Letting Agent as they often have not made a conscious decision to become a landlord and in many cases undertook little research into the matter.

They are going abroad or working away for a period of time and will require the property on their return
They are unable to sell their home for example, due to negative equity. This includes down-sizing - they rent their property and move into [often rented] a smaller property hoping that the difference they pay in rent will increase their chances of retaining their property
Inherited Home There is no guarantee that this type of property will be easy to let, as it was never designed to be let out and probably inherited from parents that died. However, there is usually no mortgage on the property so that generally makes the landlord more flexible as far as rent is concerned.
Holiday Lets They may have a second home: and want to let out as a holiday home whilst they are not living in it. This is very area specific and generally takes a bit more work as the property will require bedding, towels and obviously cleaning services will also be needed however, holiday lets are lucrative and worth looking at.
Retiring Overseas Many people are retiring overseas and reliant on rental income from their previous dwelling to supplement their pension income.
Couples becoming as one Where couples live together or marry and have an additional property.