4 Jun

Buy-to-let property investors 'need insurance'

Buy-to-let property investors 'need insurance'

Buy-to-let landlords should make rental insurance one of their main priorities this year, despite optimism being high in the sector, according to one expert.

It was recently revealed by BDRC Continental that 57 per cent of proprietors questioned said their business prospects for the next three months look good.

This is partly explained by the fact 79 per cent of such property owners are currently making profits, rising from 73 per cent in the last quarter.

Furthermore, the study showed 45 per cent of these investors plan on adding to their portfolio over the summer.

Commenting on the findings, Malcolm Harrison, spokesman for Let Insurance Services, said: "All the signs are that the private rental sector will continue to grow probably more strongly than we expected."

However, he explained it is important people make sure they are covered for any risk that may occur by taking out guarantee insurance, which would put them in a "fallback position".
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