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The glut of new ‘accidental landlords’ is bringing down rents across the UK, according to a new survey.

The Royal Institute of Chartered Surveyors says rent fell for the first time in five years across the UK, as the numbers of empty properties boomed thanks to an oversupply of rentable properties.

RICS says this is down to ‘accidental landlords’ – people who are becoming landlords in lieu of selling their property. Some will prefer to rent out the space instead of losing out in a dropping market – others are simply unable to sell.

Surveyors says London has seen the biggest drop in rent as unemployment and the threat of unemployment takes hold in the South East – 33 per cent of London surveyors found rents to be falling. More people are unwilling, or unable to move in the Capital, so are renting out the home.

The National Landlords Association says these people are bringing down the sector – many have not informed their lender that they are buy-to-let, not residential properties. Also, many have not adhered to rigorous administrative and health and safety rulings.

This may be the case, but this new phenomenon doesn’t need to be a threat. If you make sure your property is well-placed and well-maintained it is always going to stay ahead of the pack.

To keep up with the latest News and comment on the UK buy to let market visit the Buy to Let Mortgage Blog