Rental market is at 'major risk' from reluctant landlords
Tuesday, 18th November 2008

A landlord organisation has expressed its worry over recent statistics released by the Royal Institution of Chartered Surveyors.

The National Landlords Association (NLA) said that the "glut" of new landlords coming into the market as a result of economic pressures has caused many to not take the role seriously, as they believe it will only be temporary.

Head of communications at the NLA Simon Gordon said that being a landlord was hardly a job for the faint-hearted.

Mr Gordon continued: "New landlords, especially those who hadn't planned on starting a lettings business, must make themselves aware of the rules and regulations so they can operate their tenancies successfully."

However, if landlords are not prepared, he added, it could result in a "Pandora's Box situation" if prices do not improve for a long time.

The NLA was formed as the Small Landlords Association in 1973, rebranding to the NLA in 2003 before relocating to London in 2006 and registering almost 20,000 members by this year.