Landlords not protected against rent arrears

by Morag Lyall

There are too many landlords and agents who are not getting enough protection to counter the degree of risk of tenants getting into rent arrears.

This is the view of Malcolm Harrison, spokesperson for Let Insurance Services, who warned landlords of the importance of having home insurance as well as covering themselves against tenants who cannot pay.

A tenancy agreement is an important contract to have which will set out how much the tenant is to pay, but Mr Harrison added that it is important for investors to protect themselves "because nobody knows what is happening with their jobs, or with cuts, or anything else".

"In the present economic circumstances, tenants can get into trouble through no fault of their own," he explained.

His comments come after found that last year, one in three landlords were found to have tenants in rental arrears.

It also revealed that the number of landlords planning to buy new properties is increasing as demand rises.

This has even led to a rise in the number of first-time landlords.

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Published on: July 16, 2010

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