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Do i need Landlords insurance when letting?
Comments
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thank you so much, i didnt even think of the place burning down!
Read this thread from Dec/Jan http://forums.moneysavingexpert.com/showthread.html?t=619891&highlight=fire+mental0 -
go to https://www.singingpig.co.uk and read the BTL forum form front to back - and do a lot of cutting and pasting !!!! there are 69 different Acts of Parliament you need to comply with !!!!!
have you had your CORGI gas guy complete his landlords inspection and complete a certificate for you ? And how r your electrics ? Where did you get your AST from ? Which deposit scheme are you using ? and so on and so on and so on .....0 -
Shouldn't cost much more so please get it!Tough times never last longer than tough people.0
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moneysavinmonkey wrote: »ok - i'm just suggesting that perhaps there are things you don't even know you don't know. It's a serious responsibility to be a landlord and any mistakes can cost you a lot of money. You are letting out a assets worth thousands of pounds which will become someone's home.
I can not strongly recommend enough getting professional advice. There are a lot of good posters on here who can point you in the right direction but sometimes bad advice is given, particularly if all the facts aren't know. If you get professional advice and something goes wrong you have someone to hold accountable!
And if you get it very wrong you could end up in jail. Get professional advice.0 -
there are 69 different Acts of Parliament you need to comply with !!!!!
... and most letting agents don't know even half of them.
Get a good book on letting out and read it all get all of your basic obligations in place ie: health and safety stuff ,contracts, deposit schemes etc and the rest of the dispute stuff and legal rights notice stuff etc can be tackled as it happens ,just don't rush into anything or make any decisions, write dodgy letters etc until you are sure of your position and the process you will have to go through.
90% of your tennants will be fine will pay their rent on time, won't trash your house etc. You just need to be ready for the odd 10%0 -
For great Landlords Insurance try www.milestonehouse.com they have great rates and if you ring them and quote NB10 they will give you a further 10% discount.
Hope this helps:beer:0
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