The number of accidental landlords is on the rise according to some new research that was published this week. Figures from the the National Landlords Association (NLA) show that, as rents rise and vendors struggle to sell property, more people than ever before have been forced into renting out their homes. In addition, new statistics from the Co-operative Bank show that 20% of its recent buy-to-let business has come from reluctant or accidental landlords.

While temporarily renting out a property is a sensible short term solution for vendors who find themselves stuck in their homes and unable to move, ‘accidental’ landlords have the same legal responsibilities as regular landlords and are being warned to take them seriously. David Salusbury, chairman of the NLA points out that many of these new landlords ‘do not even accept that they are landlords’, which can mean serious issues and complications when it comes to mortgage finance and insurance.

Besides making the situation clear to their mortgage provider, all accidental landlords are advised to look closely at the insurance implications of renting out their homes. Standard home insurance policies don’t provide cover for the additional risk of tenants so accidental landlords often find themselves with large repair bills when things go wrong.

So, if you’re considering letting out your home for whatever reason, make sure you are covered and give us a cal first.