(PRWEB UK) 10 October 2012
Analysis of Ministry of Justice records in Wales by the BBC has indicated a 15% rise in repossessions, 1125 in the first four months of 2012 compared with 975 at the end of last year.
"There are multiple impacts," Steve Clarke, of the Welsh Tenants Association, told BBC Wales, "jobs, access to work, looking at rents, looking at further pressures on finances, people having to make decisions about heating, every aspect of cost we're seeing is rising, and that's having an impact on rents."
Insure My Let Property is well aware that most landlords view repossession as a last resort. The company is keen to remind landlords that products exist to help landlords and protect them from the associated losses.
"Void periods aren't welcome," said David Quick of Insure My Let Property, "nor is the time and expense landlords spend getting court orders and then enforcing them, let alone the trouble of finding replacement tenants."
Managing director Quick is concerned that landlords who do end up having to re-take possession of their property may be unaware that landlords' insurance can help to compensate for many of the financial losses involved. Insure My Let Property offers a true, instant comparison service between products from many of the UK's leading insurers.
"As well as choosing the right policy for their needs," Quick continued, "our customers can choose Let Legal – very cost-effective cover which provides experienced professionals to help with any legal problems landlords may face. As an optional extra, customers can also choose Rent Guarantee – a policy which will compensate for loss of rent as a result of a tenancy dispute or eviction."
With many landlords today being 'accidental', i.e. renting out their property because they can't sell, there is concern that they aren't well-informed about the safety nets that are available. Emergency cover is another example, where landlords can arrange a qualified engineer to fix problems with heating, plumbing and more, just by picking up the phone.
"We want to make sure that our customers have as easy a life as possible," said Quick, "so we strive to make sure that what we offer, as well as the best in landlords' insurance, is added services that really help out.