Private landlords looking to get into property investment to make money quickly have been discouraged by the National Landlords Association (NLA).

Spokesperson for the group Steven Hilton said the association is not surprised by the findings of a recent survey, which suggests landlords require local knowledge and active management if their businesses are to succeed.

He was referring to a report from the University of Nottingham, dubbed We All Live in a Robbie Fowler House, which indicated that buy-to-let investment is an important part of the economy, but many experienced landlords are acting like "vultures"when it comes to picking up property bargains in the current economic climate.

"Speculative or uninformed investment is now a more difficult proposition all together and we discourage those looking for a 'quick buck' to see renting property as some kind of cash cow,"said the NLA representative.

Written by Sarah Field
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