According to building society group Birmingham Midshires, parents are one of the biggest factors fuelling the buy-to-let boom.

Parents represent nearly a quarter of those planning to invest in buy-to-lets over the next six months, encouraged by strong property prices and annual government tax relief of around £2bn for property investors.

According to the report 31% of over-55s said they were intending to try their hand at property development. However, stringent fire and safety rules, mandatory licenses for houses in multiple occupancy and a new scheme to place deposits with a third party are pushing up the cost of being a private landlord.

Lisa Taylor of financial advice website moneyfacts.co.uk said: “The buy-to-let sector has only been established as an industry for 10 years and in recent months there has been an increasing drive to impose greater regulation.

“Most of these regulatory changes will cost landlords, so it is important parents are aware before they decide to take the plunge.”