Research from the National Landlords’ Association (NLA) indicates that almost three quarters of private residential landlords have experienced rent arrears, with 43% of this group reporting arrears being incurred in the last 12 months.
To offset this risk, the NLA has launched rent guarantee insurance with a policy that includes legal expenses cover and a dedicated 24-hour advisory service.
The new offering is available to all UK residential property landlords.
NLA chairman, David Salusbury, comments: “Landlords may not realise they can protect themselves against rental arrears, but our research clearly shows there is a need to safeguard your rental income.”
He adds: “Unfortunately we aren’t out the woods with the economy just yet, and thanks to redundancy and unemployment some tenants are struggling to pay their rent.”
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