What survey? plus guaranteed rent protection

Dumpydoodle

Hi there,
I'm just in the process (first time) of buying a flat to let out, and wondered if its worth paying for a homebuyers report for a 2005 built property? I have been looking at rics surveyors, however my solicitor reccomended a home inspector that is not a member of rics. Is this a necessity that they belong to this.?

In addition please, I would like to ask who is the best insurer to use for rent guarantee and legal cost cover( in the event of nightmare tennent).regarding contents, there is only the carpet, bathroom and fitted kitchen. Do you landlords on here bother with contents? Or even home cover for appliances and boiler.

I may be looking for a surveyor/ gas safe heating engineer, and electrician to pat test in the Essex area if anyone could kindly reccomend.

Oh and sorry last question. Do you have to register to be a landlord. I won't need a licence as not HMO

Many thanks

Dumpydoodle

Still waiting to hear from my solicitor, but is landlord lability cover usually covered by the buildings insurance.?
Ta

dimbo61

are you getting a loan or mortgage to buy the flat ?
The lender will require you to have a survey and you need to check with the solicitor if you can Let out the property, management/service charges?
Can you make a profit ?

G_M

dimbo61 wrote: »

are you getting a loan or mortgage to buy the flat ?
The lender will require you to have a survey and you need to check with the solicitor if you can Let out the property, management/service charges?
Can you make a profit ?

I have never heard ofa lender requiring a survey. A Valuation yes (for themselves, not the buyer). Survey is up to the buyer.

The solicitor will pass a copy of the lease, which may prohibit letting, or more likely, require the permissionof the freeholder.

G_M

Dumpydoodle wrote: »

Hi there,
I'm just in the process (first time) of buying a flat to let out, and wondered if its worth paying for a homebuyers report for a 2005 built property?
If you feel confidant about the condition of the flat/building, and confidant you could/would spot problems, then no.
If you wanttobe 100% sure, and are the kind of person who double-checks everything, insures everything, get a survey.
I have been looking at rics surveyors, however my solicitor reccomended a home inspector that is not a member of rics. Is this a necessity that they belong to this.?
I would advise RICS if you are going tohave a survey done.

In addition please, I would like to ask who is the best insurer to use for rent guarantee and legal cost cover( in the event of nightmare tennent).
the best for me/my property may not the be the best for you.
Premiums are based on location, property type etc, but you should, of course, compare cover as well as premium. Shop around.

regarding contents, there is only the carpet, bathroom and fitted kitchen. Do you landlords on here bother with contents?
Or even home cover for appliances and boiler.
Some landlords buildings policies include a basic £5000 worth of contents cover for exactly this scenario.
Boiler/appliance cover is a matter of choice. It can make life easier, asp if the tenant can ring direct in event of breakdown, SomeLLs put aside the equivellant cost in a seperate account and pay for repairs as/when/if needed.
I may be looking for a surveyor/ gas safe heating engineer, and electrician to pat test in the Essex area if anyone could kindly reccomend.

Oh and sorry last question. Do you have to register to be a landlord.
Only in Scotland
I won't need a licence as not HMO

Many thanks

Read:

New Landlords (information for new or prospective landlords)

Dumpydoodle

Thank you for your quick replies. Very helpful, and unfortunately I am the sort of person who checks and insures something.. Very cautious, as not a particularly lucky person from past experience.