9 Mar

Long distance landlords on the rise

Long distance landlords on the rise

The number of landlords in the UK who have property to let in London and other places but do not live there is increasing, according to the results of a new study.

The Association of Residential Letting Agents (ARLA) has said that in the capital alone there is almost double the amount of property to rent in the city as opposed to the number of landlords who live there. The situation is similar in Scotland.

On the other hand, in Wales and the south-east, almost all landlords live in the area where their property stock is.

The rise in the number of long distance has been linked to the Co-operative's report on the increase in accidental landlords, with the bank saying they make up five per cent of all its buy-to-let mortgages.

ARLA operations manager Ian Potter said: "It is a common phenomenon for landlords to let properties in different parts of the country and it is likely that trend will grow."ADNFCR-1222-ID-801314359-ADNFCR

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