20 Apr

Protect yourself, landlords urged

Protect yourself, landlords urged

Landlords can do more to ensure they are covered against the possible consequences of tenants becoming unemployed, it has been stated.

Measures such as taking out rent guarantee insurance and referencing tenants are ways in which property investors can minimise the chances of not being paid, Smartlandlord.co.uk noted.

At the same time, taking in unemployed tenants whose payments are guaranteed by the state "can be a good way to secure a regular income in the current environment", commented managing director of the portal Keshav Thukaram.

However, he advised, those doing so should ensure they know their rights and get payments made directly to them from local authorities in the event of any problems.

More landlords might be keen to take on tenants on benefits if the government were to change back the rules to ensure the rent of those on local housing allowance is paid directly to them, the National Landlords Association (NLA) argued this month.

The NLA said the alteration in the system a year ago to having the money paid to the tenants has led to increased non-payment of rent.
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