Landlords warned about rent arrears

Posted: 21 Oct 2009 11:37:45 GMT

Landlords in the UK can protect themselves from rent arrears by taking out specific insurance policies, according to the National Landlords Association (NLA).

The organisation's chairman David Salusbury said that there is currently a need to protect this 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," he explained.

Recent research conducted by the NLA shows that almost three-quarters of landlords have experienced rental arrears at some point in their careers.

Some 43 per cent of these incidents occurred in the last year as the financial crisis has taken hold and unemployment figures have risen.

Indeed, the most recent jobless data from the Office for National Statistics revealed that the number of people in the UK who were without a job rose 88,000 to 2.47 million between May and August.


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