New Landlord, Need Advice

cd10

hi, im a new landlord and wondering what insurances i need on a new build apartment im about to let? i pay huge servcies charges and was wondering does this cover building inssurance? also do i need any additional cover like contents insurance although i am renting it unfurnished? last but not least any idea who picks up the tv licence as i have someone interested but only for 6 months (i have my own tv licence for my house and i havnt put a tv in the apartment)? just unsure who picks this up!!

Cheers

ET1976

cd10 wrote: »

i pay huge servcies charges and was wondering does this cover building inssurance?

How do you not know this???

1. Read your lease.
2. Have a look at landlordzone.co.uk/get a book on being a landlord/join a landlord's association.

If a tenant gets a TV they are responsible for the licence.

LandyAndy

ET1976 wrote: »

How do you not know this???

.

:rotfl::rotfl:

And this guy's not even an accidental landlord.:o

Cannon_Fodder

Yes he is... http://forums.moneysavingexpert.com/showthread.html?t=2268569&highlight
and http://forums.moneysavingexpert.com/showthread.html?t=2260025&highlight

His other classic question makes you wonder whether he is using wireless broadband from under a bridge... http://forums.moneysavingexpert.com/showthread.html?t=2276809&highlight


Don't suppose he got consent-to-let...

PasturesNew

Does the block allow you to rent it out? Some don't. Have you checked?
Usually buildings insurance is included in the service charges - but you should check.
You don't need contents insurance as it's being let unfurnished, but (let's say), if there's a fire then your curtains/carpets would be contents and so need insuring.

Check out landlord insurances too.... there are many things landlords can insure for/against. e.g. if the property burns down, you won't have an income from it; what if the tenant refuses to pay the rent after the 2nd month .... and a whole raft of other things you might encounter.

You needn't worry yourself about a TV license, it's not your responsibility.

slowfastcars

You might consider taking out a landlords insurance policy to cover you for either of these two situations:

1.Your property is damaged by a fire. Your landlord's insurance policy would not only pay for all of the work to repair the property but also pay you the rent that you are missing out on by not having tenants living in the property during the period of repair.

2.You fall out with your tenants. They stop paying the rent and refuse to leave the property. You are forced to take them to court to get them evicted and collect rent owed to you. If you have purchased the "Legal Expenses" cover as part of your Landlord's insurance policy then all of your costs accrued in fighting the court case would be compensated.

Here's a list of phone numbers of some decent landlord insurance companies, ask them about the cover they would provide for this on a non furnished policy:

Endsleigh.................0800 028 3571
Direct Line................0845 370 4237
More Than ................0800 294 2416
Quoteline..................0870 066 7500
Simply Business ......0845 602 3165
Legal & General.........0800 092 9922
Tesco.......................0845 300 9900
NatWest....................0800 051 0562

hope this helps

Former_MSE_Alana

Hi,

We have received this response from TV licensing:

"Hi cd10,

Whoever is watching the TV in the apartment needs to make sure they are properly licensed.

As you are providing the flat unfurnished (i.e. without supplying a tv), then you can leave it up to the tenants to ensure they are properly licensed (unless you stipulate otherwise in your tenancy agreement). This should be able to provide some more info: https://www.tvlicensing.co.uk/check-if-you-need-one/

Also, with regard to your question about the tenant's 6 month lease, they may be able to claim a refund on any unused quarters remaining on their licence. Please see here for more details: https://www.tvlicensing.co.uk/faqs/FAQ76/

Hope this helps. Feel free to get in touch if you have any questions.

TV Licensing Support
support@tvlicensing.info"

tbs624

See folks not only are the Licensing enforcement bods in "your area right now" they are out trawling MSE forums looking for license dodgers. Maybe the potential T will have a life and actually not have a TV at all........................;)