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Insurance can protect landlords
18 June 2008
Landlords should consider insurance that provides emergency assistance and breakdown cover for their properties, claims an online community.
With housing charity Shelter reporting weekly complaints about landlords who have not secured their tenants deposits, it is vital that landlords get cover to ensure that repair needs are dealt with around the clock, according to Landlordzone.co.uk.
Tom Entwistle, editor of Landlordzone.co.uk, said: "It is always a good idea to have emergency cover and a lot of landlords do use that because it makes it easier for them to manage."
Landlords can also take out rent guarantee insurance if they are worried their tenants cannot afford to pay them.
"If the landlord is quite highly-geared financially, and they are worried they are not going to be able to pay the mortgage, it [rent guarantee insurance] is especially useful," said Mr Entwistle.
A survey of the Association of Residential Letting Agents' member letting agents revealed that tenants are staying in properties for an average of 16.3 months.
