Figures show that the North of the country has seen a greater increase in properties being rented out, as opposed to sold, in Q3 2010. ARLA reported that 58% of Agents saw an upward trend in ‘Reluctant Landlords’ from the North, which is likely to be due to market conditions making selling more difficult, as well as an uncertainty about the future. These new landlords will, of course, benefit the rental market in cities such as Leeds, but this does raise concerns about levels of experience private landlords may have in being able to deal with tenants, properties and any potential problems that can arise.

Natalie Evans, of Go Lettings in Leeds, said of the figures, “we have certainly seen a marked increase in new landlords asking for rental valuations in Leeds over the last quarter, many of whom would have previously considered selling, but feel now is not the right time. Many of these Landlords have never rented their property before and need help and reassurance. The idea of being a private landlord is appealing to them from a financial point of view, but the reality is a different matter. Landlords are often surprised by how time consuming a let can be, how confusing the legislation can be and how many issues can arise both during and at the end of a tenancy.”

For more information on the ARLA Q3 report visit their website here.