| Landlords Rent Protection Insurance – Have you got it? Tenant arrears have already begun to climb and in April there was an increase of 2.4% up on March. Consecutive Bank Holidays have been blamed for the increase in the additional £60m arrears marked up from the previous month’s £224m. At the close of April, 11.8% of all UK rents had fallen into arrears. The NLA (National Association of Residential Landlords) have also offered their own snapshot of Landlord’s opinion and stats for the private sector, through a study conducted with approximately 600 Landlords. A surprising 52% of Landlords they surveyed had experienced rent arrears within the past year, with the average tenant owing £730 in late rent payments. Landlords are advised to keep an eye on rent arrears and act fast. These statistics make it even more important for Landlords to work with a professional Agent who will monitor and assist in arrears situations and look to collect rent before things get out of control.
At Prospect Investors Club we also offer our Landlords Rent Protection Insurance through FCC Paragon Referencing.
For Terms & Conditions and to arrange a policy, contact our specialists today on 0118 955 9712. |
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