Commenting on the launch of the new product - NEW COVER TO PROTECT LANDLORDS RENTAL INCOME, Steve Chadwick, Director from Martin & Co Hinckley said: “Throughout 2010 unemployment has remained at the highest level that we’ve seen for over a decade. The latest research from the NLA shows that many landlords are understandably concerned about the effects of the spending cuts. The cuts will inevitably have an impact on unemployment levels, which are expected to increase in 2011. This will impact many tenants’ ability to pay their rent, which is a real worry for landlords.”

Martin & Co have combined their knowledge and expertise with HomeLet, who have been supporting the lettings industry since the birth of buy-to-let, to create a product that is already in high demand. Steve says that  “In times of uncertainty it’s good to have business partners you can rely on. We’re delighted to be working with HomeLet, the principal provider of credit referencing and insurance products to the UK lettings market. Landlords who are already covered by the Martin & Co Promise can relax safe with peace of mind that if one of their tenants fails to pay the rent we’ll take care of everything and they’ll still receive their rental payments.”

This year HomeLet have already paid out over £2.5 million in missed rental payments and legal claims fees, a figure which is expected to rise even further during the next 12 months. Landlords who fail to insure their rental income could find themselves in serious financial difficulty and risk having their property repossessed if they fail to keep up with their mortgage repayments.

According to Steve, it is more important than ever for landlords to make an informed decision when choosing a suitable tenant based on their ability to pay the rent, but in today’s economic climate landlords need to consider affordable insurances that protect their rental income.

For further information contact Martin & Co Hinckley on 01455 268 982, email Hinckley@martinco.com or visit the Martin & Co feature on the bestofhinckley.

Martin & Co have been voted 'Best Large Letting Chain Award Winner' – Gold in 2009 and Silver 2010 by www.theestas.com. We are the UK’s largest residential lettings agent with over 170 offices throughout the UK with a local office in Hinckley at .