There are thought to be as many as 500,000 'accidental' or 'amateur' landlords, who let their homes out because they cannot or do not want to sell them.
Of the estimated 1.4million landlord mortgages, 68% of landlords have just one property to let.
The average landlord pays £1,500 a year in maintenance and repairs, mandatory gas inspections and other associated costs.
Renting a flat for £995 a month may sound like a good income.
But take out monthly mortgage costs, 10% letting agent fees, insurance premiums and service charges there is very little left over.
This is worse when you take into consideration that some tenants can't or won't pay the rent.
The costs of evicting a tenant who may owe £3,500 in rent could top £6,000 in legal fees to get them out.
Also add in a further £5,000 - £9,000 to refurbish the property afterwards when it is eventually vacated.
Even if you do make a profit, the Taxman will want his share and is currently targeting landlords who have not declared the income received from rents after deduction of expenses.
Even when you do decide to sell there will be Capital Gains Tax due, as the rental property is no longer classed as your main home.
