With rising bills and high unemployment, landlords across the country are reporting a sharp rise in the number of missed payments by tenants. A recent report by the Association of Residential Lettings Agents revealed letting agents are seeing a 40 per cent increase in defaulting tenants. However Shropshire landlords can rest easy - Shropshire Lettings are offering a Guaranteed Rental Income scheme for landlords.

Under the scheme, landlords are guaranteed their expected rental income each month, even if a tenant defaults on the rent.

Rupert Williams, partner at Shropshire Lettings said: "While we are confident our vetting procedures secure reliable tenants for landlords, in the current climate unfortunately even reputable tenants are at risk of defaulting. Our Guaranteed Rental Income scheme offers landlords certainty of income from day one of the tenancy, even if a tenant misses one or several rent payments."

The scheme will be funded through a small increase on the monthly management fees and will apply to all new tenancies.