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05/01/2009
Lack of rent insurance "a gamble" |
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It has been claimed that landlords who do not take out rent insurance are taking a risk.
Michael Portman, managing director of Let Insurance Services, has said that property owners are taking a "gamble" as there are no certainties in this world.
Mr Portman suggests that some landlords may think that they have a "good quality tenant" and do not need such cover.
However, he adds that there is "no guarantee that that tenant will have his job in three or six months' time and will be able to afford to pay the rent".
In December of last year, the National Landlords Association found that 71 per cent of landlords expect rent arrears to increase this year.
It also found that 67 per cent of landlords have previously experienced problems with tenants not paying rent.
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