Landlords urged to consider ‘type of tenant’ they want
New research by Designs on Property has revealed that a number of tenants are now looking for a long-term home, rather than temporary accommodation.
With this in mind landlords have been encouraged to consider very carefully the tenants they would like in their properties.
David Lawrenson, private rented sector expert at LettingFocus.com, said that the type of tenants in a home can dictate the price of buy to let insurance.
“If you are letting to students, you have got a shared house or if you are letting to people in receipt of benefits, in all of those situations it would normally be the case that your insurance premium would be higher.”
He went on to say that landlords may end up paying a higher excess if they are renting their property to those groups.
With the demand for long-term accommodating increasing in recent years it is important that landlords look for tenants they feel comfortable with as they may be renting for a long period of time.
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