22
Oct
Landlords advised to take out rental insurance
Estate agents may want to encourage landlords to take out insurance
following the comments of one industry expert.
According to Malcolm Harrison, a spokesperson for Let Insurance
Services, it is "a little surprising" that rental arrears are on
the increase because 90 per cent of the UK workforce is still
employed.
However, he appreciated that in the current economic climate,
anything can happen and people could lose their job or fall behind
on their rent at any moment.
Mr Harrison continued: "Because of this increase in rental arrears,
which is being experienced by landlords, it is obviously extremely
important that you take out rental insurance."
He also advised landlords to ensure they have good references and
keep risk management at the front of their minds.
Mr Harrison's comments come after the National Landlord's
Association revealed that over the past three years, the strongest
rental growth has occurred in London and the south-east.