Buy to let property is now being seen as an attractive investment in comparison with savings accounts as more accidental landlords enter the market.

According to recent figures from the Association of Residential Letting Agents (Arla), more properties are coming onto the rental market as people are struggling to sell their homes.

This means more accidental landlords, who still require the same landlord insurance as professionals, are entering the market.

Almost half of the letting agents polled by Arla reported an increase in the number of unplanned lettings coming onto the market during the third quarter of 2011, compared to 40 per cent at the start of the year.

David Lawrenson, private rented sector expert at LettingFocus.com, said the figures are unsurprising with the reports of strong rental increases currently circulating, in particular in London.

“The net yield achievable can be about 4.5 per cent or more and from that view it is quite an attractive investment. Chances are that the property’s value won’t go down, so you are getting a good yield as well,” he added.