ARLA: Number of accidental landlords on the up

The number of individuals buying landlords house insurance for the first time is rising in some parts of the UK, as the number of reluctant landlords is on the up, according to one group.

Research from the Association of Residential Lettings Agents (ARLA), shows that nearly half of ARLA members reported a rise in the number of unplanned lets in quarter three, with homeowners choosing to become landlords because of problems selling their home.

This figure rose significantly from 40 per cent at the beginning of 2011 - indicating that many more homeowners will have had to swap their property insurance for specialist landlord insurance.

The accidental landlord trend was particularly prevalent the north-east and north-west of England, where 67 per cent and 62 per cent of respondents reported a higher number of reluctant landlords joining the market.

"Letting a property is an excellent way of generating consistent income from your property, if the correct approach is adopted by prospective landlords," said ARLA President Tim Hyatt.