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  • Buy-to-Let

    Landlords, are you about to get sued by your tenant(s)?

    I’ve just been going through some paperwork and making sure that all of my buildings insurance policies are up-to-date and that they are of the correct type. Did you know that your landlord buildings insurance is invalid if your tenant becomes an LHA tenant and you knew (I.e. signed off some LHA forms) but didn’t tell your insurance provider that they’ve changed status? Similarly, even if you decided to take out a policy for LHA tenants which costs more but let if out to working tenants (theoretically lowering your insurance company’s risk) you can still invalidate the policy.

    There’s also the gas safety certificates, carbon monoxide detectors, smoke detectors, electrical regulations, fire hazards, trip hazards, the list goes on. Does anyone have a definitive list of everything that a landlord can do to prevent himself falling fowl of the law or simply invalidating his/her insurance policy?

    I self manage my properties but from what I understand, not even outsourcing the management of a property to an agent can alleviate the landlord from his/her responsibilities in this area.
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    NO!

    All you can do is go trough your policy; with a notepad at the side and make a bullet point list of the "trips" put in place to void the insurance.

    Unfortunately people often go for the cheapest which involve a lot of get out clauses and "not included" clauses. There is very little common clauses between policies.

    You should have a 14-day cooling-off period to get a policy; ensure its what you want and return it without costs within that period.
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    Thanks for this Adam.

    Just wondering if you or anyone else had any thoughts on the other aspect of the question? This is more about getting sued for being in breach of regulations rather than invalidating your insurance through negligence.

    Gary.


    (27-05-2014 10:12 AM)Adam Hosker Wrote:  NO!

    All you can do is go trough your policy; with a notepad at the side and make a bullet point list of the "trips" put in place to void the insurance.

    Unfortunately people often go for the cheapest which involve a lot of get out clauses and "not included" clauses. There is very little common clauses between policies.

    You should have a 14-day cooling-off period to get a policy; ensure its what you want and return it without costs within that period.
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    @gary bray

    I self manage my properties but from what I understand, not even outsourcing the management of a property to an agent can alleviate the landlord from his/her responsibilities in this area.

    You are correct as is Adams advice
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    Being sued it up to the other side. Defending against a suit is up to you. The best defense is to stay on top of the risks and keep good records that you are following best practice at the time. If you end up in court, you can show how you have done the right thing.

    Also make sure you have sufficient insurance so the insurance company wants to make sure they are not out of pocket.
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    John Corey 


    I host the London Real Estate Meet on the 2nd Tuesday of every month since 2005. If you have never been before, email me for the 'new visitor' link.

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