4
Jun
Buy-to-let property investors 'need insurance'
Buy-to-let landlords should make rental insurance one of their main
priorities this year, despite optimism being high in the sector,
according to one expert.
It was recently revealed by BDRC Continental that 57 per cent of
proprietors questioned said their business prospects for the next
three months look good.
This is partly explained by the fact 79 per cent of such property
owners are currently making profits, rising from 73 per cent in the
last quarter.
Furthermore, the study showed 45 per cent of these investors plan
on adding to their portfolio over the summer.
Commenting on the findings, Malcolm Harrison, spokesman for Let
Insurance Services, said: "All the signs are that the private
rental sector will continue to grow probably more strongly than we
expected."
However, he explained it is important people make sure they are
covered for any risk that may occur by taking out guarantee
insurance, which would put them in a "fallback position".
