Take out insurance and protect your tenants!

An alarming new survey has revealed that many buy-to-let landlords are forcing their tenants into unnecessary costs by not taking out sufficient insurance.

Research from Endsleigh suggests that many landlords are not covered against flood damage, cracked pipes or boiler repairs. In turn, they then offset these costs against the tenants.

Lack of knowledge

On average, these additional costs totalled £165.41 per tenant, per year. 70% of those questioned were against the reasons given for these charges.

Moreover, 47% of tenants said they were not expecting rent rises, despite the additional Stamp Duty surcharge and cuts to mortgage interest tax relief. 45% said that they did not know their responsibilities when it came to tenancy agreements, or if their landlord was insured against damage.

Pleasingly, 83% of tenants said that they were content with their current landlord. 28% of landlords even said they were willing to absorb the cost of rental increases in order to keep quality tenants. [1]

Take out insurance and protect your tenants!

Take out insurance and protect your tenants!

Landlord Insurance

If you are a current or would-be buy-to-let landlord, it is absolutely imperative that you take out a landlord insurance policy that suits your needs. This will cover you against features such as storm, flood and boiler damage, giving both yourself and your tenants peace of mind.

A landlord insurance policy from Just Landlords includes 33 essential covers as standard, ranging from malicious damage from the tenant to acts of nature, such as lightning.

What’s more, you will be protected against theft, accidental damage to glass and breakages of televisions, aerials or satellite equipment.

Combine this with features including cover for replacement locks, carpets and white goods and ask yourself, can any other provider give you as much cover?

When you have your answer, take out cover with Just Landlords today!

[1] http://www.propertywire.com/news/europe/uk-residential-tenants-costs-2016070712115.html

 

 

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