Landlord insurance customers across the UK have been in one of the strongest positions of anyone in the property sector for the past few years, with the lack of people able to afford to buy their own home playing into the hands of those with buy-to-let houses.
Throughout the majority of 2011, 2012 and the first half of 2013, landlords in the UK were experiencing record high rental income time and again as demand was sustained, pushing what they were able to charge higher and higher.
However, this has started to slow, leaving those with rented accommodation to let out facing an entirely different situation. According to the latest figures from LSL Property Services, the cost of rent in June sat at £737 - a figure that was completely stable when compared to a month earlier in May.
This is the first time there has been no growth in a month for more than two years, and may leave many worried that the growing number of new buyers now able to get onto the property ladder is having an effect on the volume of people who are looking to get into rented homes.
For landlords who are worried though, there are steps to take to ensure they keep money coming in. For starters, offering a leeway on the rental price can be a great start. There may be people who want to take a place on, but feel it is just out of their price band. A little bit of negotiation in these cases can work perfectly for both parties and keep income ticking over.
This can also work with utility bills, council tax and other charges.
For those who simply cannot find a tenant during periods of low demand though, it is important to make sure they have unoccupied homes insurance to protect against the increased risk of damage that comes with leaving a property empty for any sort of extended period of time.