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  • Insurance

    Landlord insurances for flat?

    Hello all,

    I'm about to rent out my studio apartment in manchester and I'm looking into the possibility of getting landlord insurance to cover voids, property damage etc. Is it worth it for a small studio apartment without much furniture etc and how much should it cost to get LL insurance of this kind?

    I keep seeing references to CTL on this forum and some people seem to be of the opinion that it is a good idea. What is this?

    Also are there any other kinds of insurance related to being a LL I should be considering?

    Thanks

    thanks

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    If you contact Property Tribes' award-winning insurance partner, Alan Boswell Group, on 01603 649736 they will be able to advise you.

    I would recommend landlord's liability insurance and rent guarantee insurance as a minimum.

    CTL = consent to let.  If you have a residential mortgage on this property, you will need to contact your lender and ask their permission to let the property out.  They may offer this as a time-limited option and they may charge a fee.

    If you are looking to let the flat long term, you should change to a BTL mortgage product asap and the team at Property Tribes Financial Services on 01206 654444 can assist with this.

    As for your final question about types of landlord insurance you should consider .... See - Mitigating business risk through insurance

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    Big help as ever. I have a BTL mortgage already but I'll certainly check out the other info. Thanks again.

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    Didn't know you could get landlord insurance to cover voids ? Where have you seen this may I ask ?

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    I think the OP was taking more about voids of payment rather than the property being empty.

    You can get guaranteed rent from Northwood if you're worried about voids though. They're a partner of PT.

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