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Leasehold, absentee landlord and insurance
skanegb
Posts: 14 Forumite
Hi,
I've recently purchased a leasehold flat that was a reposession. The flat is one of a purpose built block of 4 each with their own separate entrance and there is no internally shared space. Before I purchased I knew the freeholder was unobtainable and I have been given absentee landlord indemnity insurance by the vendor.
Here's my question how do I go about insuring the property? There is no management company and each of the 4 flats seem to do their own thing and I cannot make contact with any of their owners or tenants. My intention is to place the property on the rental market after some initial repairs but I'd like to get this insurance issue sorted out.
I've read about right to manage and enfranchisement too, is this worth it for a rental?
Any help greatly appreciated
I've recently purchased a leasehold flat that was a reposession. The flat is one of a purpose built block of 4 each with their own separate entrance and there is no internally shared space. Before I purchased I knew the freeholder was unobtainable and I have been given absentee landlord indemnity insurance by the vendor.
Here's my question how do I go about insuring the property? There is no management company and each of the 4 flats seem to do their own thing and I cannot make contact with any of their owners or tenants. My intention is to place the property on the rental market after some initial repairs but I'd like to get this insurance issue sorted out.
I've read about right to manage and enfranchisement too, is this worth it for a rental?
Any help greatly appreciated
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