For some landlords it can be difficult to determine whether your prospective tenants are of good character and reliable when it comes to rent payment. Checking references is the more obvious solution to this predicament but you need to trust that the person and the information they are giving you is honest. Not only this, but a tenants previous good behaviour is not a guarantee that it will continue. With many people finding it difficult to [...]
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For generations people have aspired to be a home owner. However, in the current climate evidence shows it may be a better idea to rent. In the past there was an expression of horror when anyone admitted to renting a property as though a swear word had been uttered.
To get on the first rung of the property ladder today, requires a minimum deposit of something in the region of £20,000 and unless a young [...]
With the latest predictions of low interest rates being with us for years to come, landlords will be wondering what exactly the future holds for the residential letting sector.
Ernst and Young, a leading UK economist group and sole sponsors of the Independent Treasury Economic Model (ITEM) club, are predicting the current Bank Rate of 0.5% will be staying with us until 2014. The prediction is based on the present government holding firm on its commitment to spending cuts of around £40 billion and the loss [...]
As any landlord will know, there is always a thin line to tread between profit and fitting a rental property out well enough to attract the type of clientele you are looking for. Always be on the look out for a good deal, whether it be cheap landlord insurance that fits your needs or replacing white goods that not only look good but do the job . The old fridge freezer in one of my properties died quite suddenly after some 15+ years of service [...]
Before you let your property to new tenants, it’s in your best interest to obtain references for your them. This will help you to avoid any potential risks – e.g. tenants who have defaulted on the rent before, or damaged properties which they have lived in previously.
Additionally, some Landlord Insurance policies may be rendered void if you let to certain types of tenants - as such, obtaining thorough, accurate references from your tenants is essential, as if you do not, it may affect your ability to claim on your insurance policy.
Rent policy cover should be considered if you are leasing out one of your properties to protect you from any threat that may affect your property. Below, we have provided a simple explanation on the types of cover options available.
Rent Loss Insurance Explained
Rent loss insurance refers to the loss of rental income or rental value due to property damage caused by an external hazard that leaves the property unsuitable for habitation.
Rent Guarantee Insurance Explained
Rent guarantee insrance is a type of insurance cover that protects landlords [...]