Fri 20 Jan 2017 View all news articles
Whether you’re a landlord with a single property or a large portfolio, have you considered what may happen if problems were to be encountered? Do you have provisions in place to give you peace of mind?
When you rent out your property you want to be sure that you are covered against all eventualities should your tenant suddenly become unable, or unwilling to pay you your rent. This could happen for a variety of reasons, such as ill health or redundancy and in this day and age it is vital that you make provisions for this.
We work closely with one of the best referencing companies in the country to ensure your prospective tenants are effectively and comprehensively vetted before moving them in. However this insurance is there for those ‘what ifs’. We have seen a sudden surge in the number of landlords taking out this cover through Karl Tatler, and it is a lot cheaper than you may think.
The policy has been designed to resolve these problems and assist the landlord in repossessing the property and pursuing tenants for unpaid rent. In addition this policy will also compensate for rent arrears while a tenant or previous tenant remains in the property, or where they have vacated the property but left it in a dilapidated state and unfit to re-let.
Problems exist outside of tenancy agreements that no one can predict such as squatters and external damage to the property. This policy will help in taking the appropriate legal action in both of these circumstances. For many tenancy disputes, the providers will be able to negotiate a full settlement of the landlord's claim. However, if this is not possible they will refer the matter to a solicitor for further action and will pay legal costs of up to £50,000. This policy also covers hotel expenses up to £150 per day, for a maximum of 30 days, and storage costs of up to £10 a day for a maximum of 4 weeks.
For more information on insuring your property as a landlord, please contact our team on 0151 342 5777.
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