"Landlords are increasingly seeking information on rent protection, so they are covered should their tenants become unable to pay their rent."
Meanwhile, the company reports a growing number of enquiries for rent protection from landlords who are concerned on both an emotional and practical level about tenants’ finances, along with their own.
In the first quarter of 2022, 62% of landlords subscribing to LettingaProperty plans chose to include rent protection. In Q2, this figure rose sharply, with more than 75% of landlords opting for the added security of rent protection.
In addition to taking a cautious approach to protecting the income on which they rely, landlords have a range of other concerns right now. Top of the list is government changes to legislation, with respondents citing the Renters Reform Bill and upcoming EPC changes as being among their worries.
Despite their concern over the current economic landscape, the majority of landlords are keeping calm and carrying on at present. 59% plan to maintain their current rental portfolio over the coming 6-12 months, rising to 79% for landlords using LettingaProperty to manage their buy-to-let properties.
Jonathan Daines, founder and CEO of LettingaProperty, said: “We’ve had a number of conversations recently with landlords who are concerned about cost-of-living rises, and the impact this may have on their tenants’ quality of life. At the same time, landlords are increasingly seeking information on rent protection, so they are covered should their tenants become unable to pay their rent.”
