Are You An Accidental Landlord? We Can Help20th Nov 2013
At Coles Miller we’re seeing growing numbers of Accidental Landlords: people who never intended to let out their property but are suddenly forced do so by changes in their circumstances.
Research from property portal Rightmove suggests that as many as a third of all landlords may fall into the broad category of ‘accidental’.
There are many reasons why property owners suddenly find themselves being steered towards letting.
In some cases it has been a family bereavement. House prices are rising again but may still have some way to go – so it can make more sense to let out an inherited property than to sell it.
For more advice on this, talk to our wills and probate solicitors in Bournemouth, Poole and Wimborne.
For other people, the pressure to become a landlord is driven by house price affordability – or lack of it.
Growing families that need to upsize from flat to house may not be able to afford such a hefty purchase and all the other costs involved. So they let out the flat and rent a house instead.
In other cases, the impetus could be divorce – a separating couple needing to let out the family home as they go their separate ways.
Whatever the reason, becoming an accidental landlord can be highly positive.
It could be just the motivation you need to start a property empire that will eventually become a solid bricks and mortar ‘pension’.
But as enthusiastic as we are about property, we accept that it’s not for everyone. Some accidental landlords yearn for escape – particularly if they’re unlucky enough to have problem tenants.
And that’s where our landlord and tenant solicitors can help. Tenants – even errant ones – have a lot of legal protection and evicting them must be done correctly.
Landlord and tenant law is a highly complex area of law. For specialist help, contact Coles Miller and ask for our disputes and litigation team.