Insurance Homeowner Insurance

Landlord Must Haves

Landlord must haves

Being a builder, or DIY enthusiast can be a huge bonus if you are buying a house to do up, to lease,or sell, its an excellent skill set and one that will stand you in good stead in life regardless. The main things that any property will have wrong with it will show up in a survey. Don’t be to scared with the things that are highlighted in the report, the biggest costs with restoring a house are labour costs, obviously if you’re doing that your self,it means costs can be controlled more easily by you.

Some parts of house restore are more relevant depending on why you are doing the work. If you do intend to let the property out, you need to make sure that you have read up on the building regulation that applies to landlord property. The most basic of the property demands are things like health and safety. There cant be damp, mould, insufficient heating, and ventilation. Basic risks, like danger of falling, electrocution, fire, etc are to be avoided by the dint of health inspections, as all properties have to be approved before any tenancy agreements can be put in place.

The gas heating and cooking appliances all have to be certified by a gas safe registered engineer, who will check for safety, and location. Once this has been carried out you will be given a certificate of compliance, a copy of this has to be given to the tenant.

All furniture must be fire resistant, most is nowadays already compliant, if you are in doubt, some furniture companies supply a landlords pack for you, this will include only compliant furniture for the property.

For Your own peace of mind I would have the electrics certified, an approved electrician can do an inspection, checking all power points, and electrical items for safety and location. This again will reduce the chances of you being held responsible in the event of any claims, insurance, or, otherwise from being pursued.

Property Inventory, I would do this at the begging of every let, you should have an inventory of all items within the flat and get the tenant to check, and sign against every one. During the tenancy, you may have things broken, or, taken. This document saves any argument at later date in the event of breakages. Always make sure This is done, you may also want to take a digital inventory with a video camera, even the most common smart phones can take good video.

Insurance for landlords property, is a requirement, standard insurance won’t cover you for the buildings, or contents for this usage. Landlords insurance is very specialised and has to be treated that way, Very few companies specialise with this insurance, one of the few specialists in this field is [http://yinsurance.co.uk/landlords/] our site is unique, in that we have specialist schemes with quite a few underwriters who only deal with this genre of insurance. Its not as expensive,as you think the cover is very wide ranging, and it gives important landlords liability insurance which, in the event of any negligence claims this will cover you In defence of them.

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