One of the unknown factors in letting property is how well your tenants are going to look after it once you agree to let it. Perhaps it’s a difficult thing to predict. But, that’s why most property owners will ask for references, to try and ensure some kind of guarantee on good behaviour.
But what if, despite a so called ‘good’ reference, you end up with tenants that cause damage or worse, even break the law in your property?
Beware of reluctant tenants when carrying out inspections – if you’ve given them notice every room should be available. If they don’t let you go upstairs because someone is sleeping, or someone is in the bath, arrange to go back and inspect again. They may have something to hide.
It can be very common for let properties to suffer damage, but there are limits to what will be covered by an insurance policy. It pays to know the difference between wear and tear and malicious damage. If you have had a long-term tenant then things such as chipped paintwork, worn carpets and marks on the wall are not considered malicious. This kind of damage is just wear and tear, which cannot be claimed for. As a landlord you should usually expect to redecorate your property after five years.
As with any policy it’s important to discuss your requirements with a broker who can advise you of the best cover to suit your needs.
Jelf is a trading name of Jelf Insurance Brokers Ltd (Reg No. 0837227), which is part of Jelf Group plc (Reg No. 2975376) and is authorised and regulated by the Financial Conduct Authority (FCA). Registered address: Hillside Court, Bowling Hill, Chipping Sodbury, Bristol BS37 6JX (Registered in England and Wales). Not all products and services offered are regulated by the FCA. FP18.21
Businesses across the South East have been recognised in the second annual King’s Awards for…
The recipients of The King’s Awards for Enterprise have been announced today, celebrating the achievements…
Buckinghamshire tech company Halma has acquired transport safety firm MK Test Systems Limited. Headquartered in…
BRiCS Development has secured an £11.55 million finance facility with Paragon Bank’s Development Finance team…
IT services and solutions company Mintivo has appointed Alex Jukes as its new Managing Director…
Bartlett Tree Experts have announced its intention to build a new arboretum and research facility…