Increase in number of first time landlords
24th January 2014
The number of first time landlords has increased thanks to a boost in the property market.
A recent survey found that 27% of circumstances involved first time landlords – the highest it’s been since the economic downturn in 2007.
With increased demand for new homes in the private rental sector growing at a steady rate, more and more people are becoming landlords, hoping to reap the many rewards that come with letting out a property.
The majority of new landlords find the idea of buying lower value housing in regions requiring regeneration a hugely tempting option, but often neglect to consider the importance of rental demand. Instances where the property remains vacant for long periods of time can prove extremely troublesome with the landlord often funding the mortgage payments as well as other related costs.
As property is probably the biggest investment we will ever make, it makes sense to ensure that they are fully protected by having the best possible insurance in place. We arrange cover for all types of standard and non-standard residential property, from those rented to students, DSS tenants and asylum seekers through to thatched homes and country estates.
For a no obligation insurance review and to find out more about how we can help you please call Horner Blakey Insurance Brokers on 020 7929 0108 or visit https://www.hornerblakey.co.uk/landlords-insurance