The so-called reluctant landlord phenomenon is slowly waning, according to the operations manager at the Association of Residential Letting Agents (Arla).

Ian Potter said that the trend which saw people renting out their properties as opposed to selling them for a reduced price is "slowly diminishing".

His comments came as Arla research showed that 80 per cent of its members' offices have seen homes put on the rental market rather than being sold - down from 95 per cent in November 2008.

Over the last year, there have been a number of people who decided drawing up tenancy agreements for their homes was a better choice than selling them in a deflated market.

However, as reports from Nationwide Building Society and Halifax, among others, suggest that the average price of property is gradually increasing, it would appear that more consumers are looking to sell their homes.

For those who are still renting out property, Mr Potter warned that the list of landlord responsibilities includes various obligations to tenants.

Written by Sarah Field

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