As property prices continue to fall and the market shows no sign of improvement, property owners who want - or need - to move but cannot find buyers or contemplate cutting the asking prices of their properties are letting them instead, becoming landlords by accident.

Accidental landlords have been warned about the dangers of letting a property that cannot be sold. Paragon Mortgages has issued advice to accidental landlords that they may be ignorant to the numerous regulations surrounding the private rental sector.

An estimated 50 Acts of Parliament and 70 sets of regulations governing the private rented sector including gas and electricity, fire safety, Energy Performance Certificates and tenancy deposit protection are all areas Paragon has highlighted as those which many accidental landlords fail to comply with.

More commonly. owners letting out their house could contravene their mortgage conditions if their lender does not know they are letting their property.

John Heron, Managing Director of buy-to-let specialist Paragon Mortgages said 'The onus is on the landlord to make sure they comply with all regulations and they are liable if something goes wrong, even if they employ the services of a letting or managing agent. Ignorance of legislation is not a defence.'