You might think that becoming a landlord is always a deliberate choice, but in fact, many landlords find themselves in this position unexpectedly.
If this sounds like you, you’re not alone. We conducted a survey with 1,071 landlords from across the UK and found that 29% of landlords say they never planned to become one - ‘it just happened’.
The reasons for suddenly becoming a unxpected landlord are varied.
From inheriting a property to needing to rent out a relative’s home to pay for their care - the emotional and logistical challenges of being a first-time landlord can often mean you need extra support to navigate the sometimes tricky process of letting out – and managing – a property.
Here are a few things that our research found out about what it’s like to be an Unexpected Landlord.
We found that unexpected landlords are more likely to be unhappy about renting out their property, compared to professional landlords (those who see letting property as a business), and pension pot landlords (those who invest in property to fund their future).
It also seems that unexpected landlords experience much more stress than other types of landlords. Is this you? At Your Move, we offer lots of helpful advice and support that can help make your new life as a landlord a little easier.
These are just a few of the things we found out about unexpected landlords compared to other types of people who let out property.
Why not download our infographic containing all the information about what an unexpected landlord looks like?
If you’ve found yourself becoming a landlord for the first time unexpectedly, visit our new landlord page for extra support, help and information including videos about people who have been in the same situation as you.