protection against non-payment by tenants?

[MGYoung]

Hi there,

I have a second property that I rent out to tenants. The current tenant is moving out in the next two months and I will be advertising the flat again. I only let the property to ‘professional’ tenants i.e. no students or DSS as I want to minimise the risk of disturbing the neighbouring residents and also the risk of non-payment and/or damage to the property. Whilst I can check references and always use a solicitor to check everything and draw up the tenancy agreement is there anything I can do to protect myself against non-payment by a tenant? I don’t have a massive mortgage on the property but if the tenant didn’t pay for 6 months then my savings would take a hit.

All the best.

[scotal]

There are insurances you can buy against this sort of thing, I've seen instances where they work too.
If you want to look into it, drop me a line I'll get some stuff over to you.

[FUBAR]

Worth looking at sites such as LandLordzone and others to give you some ideas. Certainly not the be all and end all of property information, but good places to start.

http://www.landlordzone.co.uk/dir/insurance-direct... First link I clicked on came up with http://www.lets-cover.co.uk/

Plenty more as Alex says

Edited by FUBAR on Wednesday 5th September 17:16

[insurance_jon]

letsure and coverplan spring to mind

[MGYoung]

Thanks. I'll have a look later today.