Landlords 'getting closer in age to tenants'

News Category: Industry News

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The gap in age between landlords and tenants is narrowing, according to a spokeswoman for insurer LV=.

Emma Banks from the company explained that this is due to a rise in the number of people who allow a friend to rent a room in their property, leading to what has been dubbed "friend-lords".

She also had advice for people considering becoming a landlord, such as ensuring that a tenancy agreement is put in writing, even if the lodger is a friend.

Ms Banks stated that the amount of rent to be paid and on which day should be present in the document, as well as any notice period the landlord requires the tenant to serve before moving out.

"Landlords should ensure they inform their insurer to make sure they're protected in the event of any damage to the home," she added.

Her comments come shortly after Spareroom.co.uk revealed that August 2010 was a record month for homeowners wanting to become a landlord by taking in a lodger.

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