Landlords must be beyond reproach

As the UK begins to come to terms with the words “Generation Rent” the onus on those private investors who look to cover their properties with landlord insurance grows. In the coming months their businesses will come under scrutiny from the press and the public as the welfare reforms make their presence felt on the nation.

Never had it so good!

It is no secret that property owned by private and social landlords is in more demand now than at any time since the end of the Second World War. The record levels of rent achieved by landlords across the country bears testimony to this while those property owners letting out homes in London are in the midst of what can only be termed as a golden period. Their rental earnings are shooting up and at the same time the properties they own are also growing in value, it is this that puts the London residential landlord in such a strong financial position.

In the public eye

It is worth noting though that the public awareness of the situation is growing each day as the austerity measures bite deeper, and landlords who have never been the country’s favourite public servants will now be in the spotlight more and more. Homeless charities that have always been less than impressed with landlords are now on the lookout for rogue landlords to bring to the public’s attention. Shelter one of the leading charities in the UK have openly criticised the Governments Welfare Reform Bill saying it will create thousands more homeless people who in turn could fall into the clutches of ruthless property owners who will illegally rent out homes that are squalid and without the appropriate licensing.

Keep your home in order

It is for sure that this will happen and it is key that good landlords and landlord associations not only expose these criminals for what they are but publicise the work of the vast majority of landlords who will have more social responsibility in the coming years than they ever expected. Of course landlords have their fair share of bad tenants which is reflected in the number of property owners who take malicious damage cover in their buy to let property insurance, but this is not going to be what the public wants to hear about. Landlords need to be scrupulous not only in the way they present a property but also in their business dealings and their accountancy as the spotlight falls upon their industry.