People who are thinking of becoming rental investors have been urged to make thorough preparations in advance.

According to the National Landlord Association (NLA), failure to prepare properly could result in buy-to-let property owners encountering financial difficulties.

This, it said, could also result in the well-being of their tenants being placed in jeopardy.

Simon Gordon, head of communications at the NLA, commented: "Becoming a landlord in this market is not for the faint-hearted."

He urged prospective rental investors to make themselves aware of their various rules and regulations to which they must adhere.

Mr Gordon stated that being familiar with their responsibilities and obligations would help them operate their tenancies successfully.

This comes after Paragon Mortgages reported a drop in the number of people entering the buy-to-let sector during the third quarter of the year.

The findings prompted the organisation to say that the market is likely to remain dominated by professional landlords for the foreseeable future.
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