Check list for becoming a Landlord

There are a number of ways that landlords can avoid having to make a claim on their landlords insurance policy, and help themselves and their tenants in the process

Landlords insurance specialist at Commercial Plan Insurance Nick Cole has some wise advise for those who are about to become landlords.

Get permission from mortgage lender if the property was not originally bought using a buy-to-let mortgage.
Firstly there’s a lot to being a landlord, but having good landlords insurance does make things that little bit easier and provide peace of mind. Amongst other things a policy will cover you for damage to your property and its contents, landlords liability, loss of rent, placing tenants in alternative accomodation in the event of damage to your property.
When you take on new tenants, make sure you give them more than a quick tour of the house. If you tell them where the fuse box is, they can cope in a blackout. If you show them where the stop-cock is, they’ll be able to turn the water off and avoid a flood. Likewise show the tenant where the smoke detectors are and give written procedures of how to operate them. Probably best you leave written instructions for these processes and also any electrical appliances at property. If you show tenants ways to look after your property, then hopefully, they will! The less you claim the less your insurance will cost.
Its crucial landlords are aware of the legal requirements for landlords renting properties. As more and more people enter the buy-to-let market they should also be aware that the law requires them to have a gas certificate (a copy for the landlord and the tenant) an energy performance certificate.
It is a legal requirement that you protect your tenants deposit through a tenancy deposit scheme. If there is a disagreement at the end of the tenancy regarding a proportion of the deposit you wish to with hold to cover costs the tenancy deposit scheme will provide a free service to resolve disputes.
Check your tenants references. Too many times people request references but never follow them up. 5 mins could save you an awful lot of aggrevation.
Make sure that an inventory has been supplied, agreed with the tenant and signed by yourself and the tenants, with all parties keeping possession of a copy.
Contact the utility providers to arrange a meter reading and to arrange for the tenants to take over the accounts. The tenant may need to write a letter to the suppliers stating that they are the new occupant.
Contact the local council to arrange for the tenants to take over payment of council tax.
Ensure that there is a telephone line in the property and provide the tenant written procedures telling them whom to contact if there is an emergency. This may be yourself, a 3rd party, or a tradesman.

Commercial Plan Insurance can provide a range of landlords insurance policies tailor-made to customers requirements.

See how much you could save on your Landlords Insurance. Call 0800 542 2744 now to speak to one of our insurance experts, or click Call Me Now for an instance quotation.