It is fair to say that many people view being a landlord as a great occupation and a way to generate income. Given the high levels of demand for rental property in the United Kingdom, it is easy to see why investors and landlords are confident that there is always going to be tenants looking for rental property.
However, not everyone who rents property does so because they have a plan or because they felt it would be a brilliant way to generate income. Many people who are currently landlords have stumbled into the role due to circumstances. These people are “accidental landlords” and some of the reasons why people become accidental landlords include:
These are some of the most common reasons why people become accidental landlords, but there is no shortage of reasons why people find themselves in this position. If you are currently an accidental landlord and you need help, Hansons Estates is here to ensure you receive the guidance you need.
Many new landlords are unaware of the amount of work or even the amount of administrative and legal responsibilities that a landlord has. It is difficult for people who aren’t landlords or who don’t stay in touch with the regulations to comprehend the work that is associated with the role.
Worryingly, if you don’t comply with the regulations associated with being a landlord, you may face a fine and you could even lose your right to act as a landlord. Therefore, it is vital that you are aware of the current regulations and that you and your home comply with these regulations. This is an area where we are happy to help and whether you require guidance or a comprehensive property management service, we are in a position where we can provide you with the support you require.
Some quick tips and issues that accidental landlords should be aware of include:
We know that being a landlord is a difficult role, and this is even more true for accidental landlords. If you are an accidental landlord in Ilford and you need guidance or support, contact Hansons Estates and we will be more than happy to help.