Landlords must be vigilant warns online Insurer

Online landlord buildings and contents insurance comparison site, LandlordNet is warning Landlords to be extra vigilant during the current economic crisis.
Troubled times lead to large increases in theft and tenant arrears, they warn, and landlords may be tempted to under insure in the hardening market, leaving themselves open for claims rebuttals should the worst occur.
Security issues are of particular importance at this time of year as the incidence of theft rises around the christmas holiday period. Ensure that your property is fitted with approved locks to the policy minimum standards.
Equally, landlords may have additional problems with their own tenants due to the recsession and credit crunch biting, including rent arrears and tenants leaving more frequently.
LandlordNet warns “By following a few simple tips Landlords can minimise those risks and safeguard their businesses during these difficult times. The first step is to keep a vigilant control of arrears, to flag up and keep an eye on possible rent defaulters before major non recoverable debts are occurred.
Keep up to date records of all enquiries for let properties, and act quickly if notice is given of a property falling vacant. Tenants have a lot of choice at the moment and one returned call can make all the difference.

Leave a Reply