Letting agents urged to promote rental insurance

News Category: Marketing

This article was brought to you by Rentman the premium property management system.

Landlords should ask their letting agents about rent protection insurance given the challenging economic climate expected in 2009, an expert has suggested.

Michael Portman, managing director at Let Insurance Services, said some letting agents do not promote rent protection insurance and therefore many landlords don't perceive the need to buy it.

"Some landlords don't buy it because they think the cost of insurance is not worth paying compared to the risk that they are taking," Mr Portman said.

However, landlords should consider taking out insurance this year because of the changing economic climate, he added.

The impact of the economic downturn means high numbers of UK employees could be made redundant in 2009.

According to NLA statistics published last month, some 71 per cent of landlords expect rent arrears among their tenants to increase this year.

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