There has become a soaring demand for rental accommodation, in recent months especially, with up to nine tenants competing for each property. Such an increase in tenants has been caused not only by the current economic climate but also with the record number of University applicants, which leads us to believe this demand is set to rise.

This rise in tenant demand is in sharp contrast to the fall in the number of new properties being offered to rent – this figure has fallen six percent in the last three months. The lack of buy to let mortgages is causing difficulty for new landlords to enter into the market and for current landlords to expand their portfolios to accommodate for such a demand.

This has also had an effect on the reliability of tenants; working-professionals are now at risk of losing their jobs and experiencing redundancy leaving them unable to afford their rent. This would perhaps suggest that DSS tenants could provide to be a safer option, with their rent coming directly from the government. If a DSS tenant was to fall into arrears, it is possible to inform the Housing Benefit Association, which depending on the situation, could arrange for their benefit to be paid directly to you.

The current climate is leaving landlords with a lot to think about. But one thing’s for sure, you can guarantee that your property insurance is in safe hands. If you have any concerns, please contact a member of the team on 0800 970 7172.

Jade