Landlords advised to protect themselves
Buy-to-let property owners have been advised to make sure their insurance covers rental arrears.
With the problems currently being faced by the UK economy, spokesman for Let Insurance Services Malcolm Harrison explained that policies are available to protect landlords.
Commenting on the need to prepare for the possibility that tenants could lose jobs, he said: "It is down to risk management and rental insurance is probably the number one part of risk management."
Mr Harrison also recommended taking care to get good references, although he added that circumstances can change and investors should be ready for that.
It comes after the National Landlords Association revealed that three-quarters of landlords have experienced arrears, with 43% of those being seen in the last year.
But buy-to-let property may continue to be an attractive option in the UK, with the Rent Index showing that the average monthly rent has risen by 1.2% since September.
< Back to latest news