Some feel that the condition of the property market is one of the clearest indicators of how the economy is faring.
The fluctuating prices and interest rates are often considered to be a bench mark by which one can measure just how finances are in this country in comparison to other European nations.
For this very reason, many feel that investing in property to let out is a great way to make a decent living.
Whether you want to invest in student housing or luxury flats, the level of motivation needed and the learning curve are both steep when starting out as a landlord.
Landlord insurance is one of the many things that you will need to consider when venturing into the buy-to-let property market.
It is quite easy to think that a simple household contents insurance package will suffice, but this is not the case.
It is very important to fully research what it is that you need to cover when leasing a property.
This is where a decent knowledge of landlord insurance will be beneficial.
You will be pleased to know that this information is not hard to find, in fact many of the top insurers have excellent websites which also act as online resources.
You will find that there are a load of articles that cover the differences between normal household insurance and landlord insurance.
This is where you should start, especially if you are new to this sector.
Like any new venture, it pays to have done your research in the first place, though ultimately you will learn from experience.
As long as you familiarise yourself with the basics of being a landlord and seek appropriate advice then you shouldn't go too far wrong.
Some of the main aspects of insurance to consider are detailed below, so you will have a bit of a head start.
You will probably have an idea of the kinds of people you will be looking to lease your property (or properties) out to, so you will need to make sure that you are insured for specific tenant groups.
For example, the right landlord insurance will cover you if you are leasing the property to students.
In addition to this, you may wish to research cover which can help in between letting periods, and with the potential problem of non-payment by tenants.
Luckily, this is part of what you can expect from a comprehensive landlord insurance package.
As you do more and more research, you will soon realise that you cannot leave any stone unturned.
The simple fact is that despite glowing references from previous landlords, these individuals are strangers in your property.
As such, you will need to make sure that you are comprehensively covered against any and all eventualities.
Finding a good landlord insurance package can be tricky.
It pays to shop around and also to get a recommendation from someone that you know and trust in the industry.
They will be able to talk you through some of the steps that are involved, and advise you on how to proceed.
They will help you with your final selection and then you will be able to direct your attention and questions towards the insurance company.
Before too long, you will have gained a better understanding of what is involved and should be well on the way to arranging your insurance, for your sake and the sake of your future tenants.