22 Oct

Landlords advised to take out rental insurance

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.ADNFCR-1222-ID-19422316-ADNFCR

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