Friday, February 24, 2006

Small landlords dominate PRS

Reading an article in the Landlord press, I was interested to see that the median number of properties owned by private residential landlords is 4, and that some 30% have just a single property. The private rented sector, which makes up around 10% of the housing market, is dominated by small scale private individuals who rent property as a sideline activity. Apparently only about 15% of these belong to any trade or professional body.

No doubt it is partly as a result of this, that increasing regulation is being introduced, starting with the mandatory licensing for HMOs mentioned in yesterdays post, with more to follow in due course. Landlords need to be aware of these developments or they could find themselves in difficulties.

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