Insurance News Archive
Costs are 'putting pressure on landlord insurance holders'
Written by Judith Stevenson
The costs and administration involved in renting properties is putting pressure on landlord insurance policyholders, according to an expert.
Mark Butterworth, a director at the Residential Landlords Association, said that the likes of licensing, tenancy deposits and energy performance certificates are driving up costs for landlord insurance policyholders.
The regulatory regime is also a dissuasive factor for buy to let owners, according to the expert.
"Now would be a good time for the Treasury to relax pension rules to allow Sipps [self-invested personal pensions] to hold a proportion of residential property," he suggested.
Mr Butterworth added that the anticipated reduction in the number of properties available on the market will provide support for rent levels.
Recent research from the BDRC found that 13 per cent of landlord insurance policyholders surveyed in the second quarter of the year felt that the prospects for the private rental sector in the following three months were good, up from ten per cent in the first quarter.
09 Sep 2009
