Insurance News Archive
Buy-to-let property insurance: Rise in second homes being let out
Written by Jenny Smith
Many buy-to-let property insurance holders are now realising that their holiday homes can be used to generate income, an expert asserts.
Kate Stinchcombe, spokesperson for holidaylettings.co.uk, claims that more people are advertising their properties rather than leaving them empty in their absence.
She states: "Anybody who is deciding to rent out their second home is actually at least on their way of making a financial gain this year."
The market is currently very buoyant and there is a high level of demand for those with buy-to-let property insurance, she asserts.
Ms Stinchcombe claims that while fewer people are buying second homes abroad there is still growth in the rental sector.
She says owners are approaching her firm asking for help letting out their homes because they need it "to start paying its way".
Recent research from Holiday-Rentals shows that apartments in Prague are the cheapest for renters, while Cote d'Azur, the Canaries and the Costas are among the most popular destinations.
23 Jul 2009
