With buy to let insurance you could protect yourself against many of the risks associated with renting out your property.
A study by Northwood UK estimated that:
- Tenant arrears, empty properties and household maintenance costs private rental landlords £2.1 billion a year
- The average private rental landlord forks out more than £1,500 a year in unforeseen costs
- Unexpected costs lead to landlords earning 84% less than they'd budgeted for
As a landlord it's important to know your duties towards your tenants. Carrying out heating repairs and gas and safety checks, for example, are jobs that you're responsible for.
If you need more information about buy to let insurance our guide should help.