Insurance News Archive

Make sure the rent comes in every month

Landlords who are feeling nervous about receiving their rent in the current climate can take many steps to ensure they are not out of pocket, including getting proper references.

Advice from Young's, an estate agent, includes getting employers' references in writing and check the reference details given are current companies and not a previous employer.

Landlords could also use bank statements to assess whether salary is going into the account each month and that rent has been coming out.

Insurance is another solution advised by Young's, as it can protect the failed rent payment.

If after all these checks the landlord is still unsure, they should secure a UK-based guarantor for the rent, meaning they have a second port of call for the money.

The advice follows research issued last week from Smartlandlord.co.uk, which showed landlords are being hit by rising unemployment levels of tenants, which is up 3.1 per cent on last year.

24 Apr 2009