Landlords

02 December 2015

Landlord Insurance - Have You Prepared for Heavy Rain & Flood?

Written by Jon Norman, Posted in Landlords

The Environment Agency (EA), the Scottish Environment Protection Agency (SEPA) and Northern Ireland’s Rivers Agency report that over 5 million properties in the United Kingdom are at risk of flooding.

Flood damage can be significant and it is important that buy-to-let property owners have taken adequate precautions as well as reviewing their Landlord Insurance and HMO Insurance policies carefully to ensure that the correct sums insured and cover is in place.

07 October 2015

Landlord Insurance - Smoke And Carbon Monoxide Alarm Regulations 2015

Written by Jon Norman, Posted in Landlords

With effect from 1st October 2015, The Smoke and Carbon Monoxide Alarm (England) Regulations came into force.  All landlords owning and renting property in England need to be fully aware of their responsibilities to avoid potential prosecution as well as reducing the risk of potential Landlord Insurance claims.

03 August 2015

Landlord Insurance Explained - Are You Ready for MEES Regulations?

Written by Jon Norman, Posted in Landlords

On 26th March 2015, new energy efficiency regulations were passed in law relating to the private rental sector in England and Wales.  These regulations are better known as Minimum Energy Efficiency standards (MEES).  

Whilst the majority of these regulations will not apply until 2018, tenants can make requests directly to Landlords from 1st April 2016, as such, it is important that property owners are making early provision to meet the new requirements.

15 June 2015

Landlord Insurance Tips - Pros & Cons of Letting to Students

Written by Jon Norman, Posted in Landlords

The UK university population boasts some of the oldest and most prestigious establishments in the world, attracting huge demand for places from international and home grown students alike.

The popularity of further education continues to drive the student let market, delivering resilient returns year-on-year. Yet, letting to students is not without additional risk and poses unique nuances that are not present with the average professional tenant.

With this in mind, it is important that Landlords enter the student market with their eyes open, understanding both the advantages and risks — It is also important to purchase specialist Student Landlord Insurance to ensure you are covered correctly for all eventualities.

16 April 2015

Property Insurance Explained - What Is Terrorism Cover?

Written by Jon Norman, Posted in Landlords

Sadly, the frequency, audacity and geographical reach of terrorist attacks has noticeably increased in recent years. Understandably, businesses, property owners, and insurers are concerned with mitigating the risks posed by the increasingly prevalent, damaging and random terrorist attacks.

04 March 2015

Block of Flats Insurance - What Cover Does A Residents? Association Need?

Written by Jon Norman, Posted in Block of Flats, Landlords

Typically, a residents association is established by a group of property owners or tenants in a block of flats who act with the best interests of all the flat owners or leaseholders in mind.  The association will deal either deal directly with the property owners managing agent or alternatively manage the freehold for the group.

16 February 2015

Landlord Insurance Tips - How To Maintain and Use Chimneys Safely

Written by Jon Norman, Posted in Landlords

As a Landlord you will know that let properties come in all shapes and sizes.  An increasing number of let properties will have a chimney and it is important that both you and the tenants are taking appropriate precautions to reduce fire hazards which could lead to potential claims under your Landlord Insurance policy.

11 February 2015

What Type of Business Insurance Do I Need As a Letting Agent?

Written by Jon Norman, Posted in Block of Flats, Unoccupied Property, House-in-Multiple Occupation (HMO), Business, Landlords, Property

If you’re thinking of joining over 25,000 current Estate & Letting Agents across the UK by setting up your business then you’ll no doubt have spent months meticulously planning and preparing for launch. 

From location to web portals, to marketing and back office systems, there is a huge amount to consider – however one key area which is often overlooked until the last minute is Business Insurance.  This might not be the most exciting subject, but without the correct protection, you could leave your new business exposed to financial ruin.

28 January 2015

Landlord Insurance Tips - What To Do When Letting For The First Time?

Written by Jon Norman, Posted in Landlords

Low interest rates for savers and changes to pension regulations are encouraging more and more people to turn to property, both for capital investment growth via increases in the property value, as well as annual yields via rental income.

Alongside this, is the growing number of so-called “Accidental” Landlords, whereby the property owner is moving to a new property or location for work and chooses to let the original home.  In fact, our patners, LV=, report that 55% of Landlords never intended to let, but fell into it due to circumstance.

12 January 2015

Landlord Insurance - Are You Prepared for Terrorist Acts or Disasters?

Written by Jon Norman, Posted in Landlords

As a Landlord or property owner, it is not just standard perils such as fire, theft or flood which can impact your assets.  You also need to be prepared for a host of unforeseen threats to your property, including acts of terrorism, natural disasters or criminal activity.

Fortunately, such events are not commonplace, but the consequences can be devastating and without adequate planning, you leave yourself open to financial disaster.  Standard Landlord Insurance policies will not normally extend to cover terrorist acts and without adequate additional protection your property could be significantly at risk.

08 January 2015

Landlord Insurance Tips - Good Tenant Relationships Avoid Legal Action

Written by Jon Norman, Posted in Landlords

With around half of Private Landlords now choosing to manage their property directly with their tenant rather than utilising the services of a Letting Agent it is even more important to maintain good relationships with tenants.

30 December 2014

Landlord Insurance Explained - Why Accidental Landlords Can Be At Risk

Written by Jon Norman, Posted in Landlords

Property is seen as a sound investment – as safe as houses you might say! Accordingly to research from our partners, LV=, Britain’s love affair with property ownership has now spread firmly into the rental market, with one in twenty of British adults renting out a property to supplement their income, but these so-called "Accidental Landlords"often put themselves in financial risk.

07 December 2014

Landlord Insurance Explained - Gas Safety at Your Let Property

Written by Jon Norman, Posted in Landlords

The health of your let property’s tenants can be jeopardised by poor gas safety, and it is your responsibility as a Landlord to provide a healthy indoor environment, whether it is protecting against airborne moulds, fumes or gases.  Injury or illness to a tenant which can be directly related to a property Owners negligence can result in costly liability claims under your Landlord Insurance policy.

27 November 2014

Landlord Insurance Tips - Get Prepared for The Immigration Act 2014

Written by Jon Norman, Posted in Landlords

From the 1st December 2014, important changes to the Immigration Act 2014 (Act) will come into effect which will have a significant impact on Landlords and Letting Agents in terms of tenant checks and referencing.

These provisions will require private landlords to determine whether new tenants have the right to rent before letting a property to them. The onus is therefore directly transferred to the Landlord to ensure that they are complying with regulation.

11 November 2014

Landlord Insurance - Reduce Your Risks With Tenant Referencing

Written by Jon Norman, Posted in Landlords

Choosing the wrong tenant can lead to lost income, legal actions and damage to your property, which could result in costly Landlord Insurance claims.

Conducting tenant referencing on prospective tenants is a wise way to ensure a mutually successful experience for you and the applicant, and it is an effective risk management tool. Although tenant referencing does present some costs, taking on a tenant without having performed this reference check carries significant risks and can cost you a lot more money in the long run.

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