Over a fifth of landlords in the UK aged 50 or over would classify as “accidental landlords”, according to a new survey. These are landlords who have inherited a property in a relative’s will, or found they have a spare house after moving in with a new partner, for example.
Next comes the decision as to whether you should sell the property, or rent it out, but with becoming a landlord, comes a lot of responsibility. The survey by Saga Landlord Insurance reveals that nearly a third of landlords have had tenants who refuse to pay rent with one in ten landlords have had a court battle with tenants.
So what are the pros and cons of being a landlord, and what should you consider before taking on all of these responsibilities? Emma Soames, Editor at Large of Saga Magazine, discusses her top tips for landlords.
Watch the video with Emma Soames on the pros and cons of becoming a landlord.