Runaway tenants

New research brought forward has shown that more and more tenants are looking to bail out on their rent as the recession has taken hold of their finances.

The Letting Protection Service (LPS) released data that shows that 1,232 landlords experienced runaway tenants in November 2008, this was a figure in comparison to 122 bailouts on the same month of the year before.

More research into the matter shows that over a third of landlords had never done a credit or reference check on their tenants.

Kevin Firth, the director of the LPS, stated that a way to prevent this is for landlords to take out insurance on their let properties as this will cover for loss of rent.

News brought to you by Insure My Let Property offering rent protection under by to let policies.

March 13^th 2009

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