NLA launches rent guarantee insurance
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Research conducted by the National Landlords Association, reveals nearly three quarters of landlords have experienced rental arrears as it launches a rent guarantee insurance.
The cover provides legal expenses and a 24-hour advisory service, available to all residential property landlords.
David Salusbury, chairman of the NLA, says: “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. 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.
“While it is wise to take out insurance, landlords should not forget the importance of also taking full references and making checks at the outset of a tenancy. Keep in touch with your tenants too. If they feel they can come to you if they are facing difficulties, you may be able to come to an arrangement before rental arrears become more serious.”
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