Insurances

INSURANCES (BUILDING, CONTENTS, RENT GUARANTEE & LEGAL PROTECTION)

BUILDING & CONTENTS

The Landlord should insure the Building and their own Contents (including public liability) with a reputable Insurance Company. It is important that the insurer is aware that the property is to be let otherwise, upon making a claim, you may well find that your policy is invalid. There are a number of specialist Insurance Companies who cater for the Residential Rental sector and you should find that they are no more expensive than arranging cover as an Owner/Occupier. OUTLOOK can arrange quotes for you on request.

RENT GUARANTEE & LEGAL PROTECTION

With the significant increase in activity in the Lettings market, a number of Insurance Companies have designed policies catering specifically for Landlords. Although recent legislation has gone along way towards giving Landlords the right to get possession back of their property there may still be instances when it is necessary to take Court proceedings to achieve this. The cost of doing so can be between £800-£1200 even if it is a straightforward case. OUTLOOK uses HOMELET Insurance who can provide cover for things such as the Tenant a) failing to pay the rent b) failing to leave at the end of the tenancy and c) causing damage to the property and its contents. As part of this service HOMELET will carry out a credit check and referencing service on your Tenant to initiate cover. The above is purely a brief resume of the cover available and more details can be provided upon request from our offices.