The property boom of the past decade has not only seen house prices rocket around the UK, it has also seen an increase in the number of people buying properties in order to rent them out. And despite the possibility of the buy-to-let market cooling, it looks as if the trend is set to continue.
According to a report last year from the market research organisation Mintel, it is possible that the number of landlords could double taking the total number of landlords in the UK to around two million.
Which type of landlord are you?
Of course, the nature of people renting out property can vary quite significantly – from those who are renting out just one house, to those that own a number of properties or even a whole block of flats.
Whether you are renting out property to provide a small income in the hope of a return on your investment, or you have a portfolio of properties from which you earn your main income, then in the same way that you would insure your own home, it’s important that you consider the insurance you might need for your rental property.