Tag Archives: Insurance

Landlords warned on buy to let insurance

Landlords are being warned to carefully review their buy to let insurance policies as rents have risen by 2.5% last year to June to underline the growing popularity of buy to let as an investment. The warning comes from Paymentshield who say that landlords, particularly those who are new to the sector, should take great care in finding the cover they need to protect their property and tenants. Their call comes after the Office for National Statistics said that rents have steadily grown across the UK. The growth in buy to let is being fuelled largely by older investors looking for better returns on their savings. Paymentshield’s commercial director, Lee Mooney, said that landlords should appreciate that as the requirements for buy to let mortgages are different to a normal one, so the level of insurance cover will be different too. Indeed, in a property that is occupied by tenants, the insurance situation is more complex. ‘Landlords should invest in a comprehensive insurance policy’   Mr Mooney said: “It’s a major investment buying a buy to let property and it’s crucial that landlords also invest in a comprehensive insurance policy will help protect them from losses that may come with […]

Landlord sued for millions after stair fall

A landlord insurer is facing a multi-million pound pay out after someone visiting a tenant in a rented property fell down a flight of stairs.

Flood hit home prices stay afloat

If you are a buy to let property investor and want to put your hard-earned cash in to a property that gives a good return and a chance of capital appreciation, would you buy somewhere that is prone to flooding?

Unoccupied homes cover FAQ

Landlords leaving buy to let homes empty for 30 days or more often have a problem with finding insurance cover.

Landlord insurance – Rebuild costs

Landlords are often confused between the rebuild cost and market value of their investment property needed for buy to let insurance.

Greater risk of disputes as 65 % of landlords carrying out …

Research revealed in a live broadcast on LetYourProperty.tv, a live web TV show providing advice and guidance for landlords, has found that 65 percent of landlords carry out their own ‘schedule of condition’ inventories, which experts say is exposing them to greater risk of deposit disputes. The independent survey carried out by Total Landlord Insurance, members of the Landlord Syndicate, found that over half of landlords have experienced a dispute over the return of the deposit when their tenant comes to move out, with 88 percent saying the most common grievance is cleanliness. In addition to having a tenancy agreement, the importance of ensuring other formal agreements and procedures are in place, such as an inventory and schedule of condition, have been highlighted. Nick Lyons, co-founder and Managing Director of inventory management company, No Letting Go, says “We always say that the outcome of a deposit dispute is determined at the beginning of the tenancy and so clear documentary evidence on the condition of the property is critical in order to overcome, for example, differing expectations of what constitutes clean.” The perception that inventories are an expensive procedure is thought to be the deterrent for many landlords who choose to […]