Decrease reported in "reluctant landlord" numbers

The number of homeowners reluctantly letting out properties has fallen for the third quarter in a row, according to figures from the Association of Residential Letting Agents (ARLA).

Six in ten of the organisation's members reported property being rented out rather than sold between July and September.

This number has deceased from 80 per cent in the second quarter and 95 per cent between January and March.

The organisation suggested the figures show that fewer homeowners were having difficulty selling property and being "forced" to let it out.

Ian Potter, ARLA's operations manager, said: "The fact that the number of reluctant landlords has dropped once again, and supported by the rise in demand for buy-to-let, suggests that movement is beginning to occur across the market.

"What remains key is that all landlords - reluctant or otherwise - are fully aware of their obligations to their tenants, and of the importance of choosing a regulated and qualified letting agent."

Get a buy to let insurance quote today from Simple Landlords Insurance.