Tag Archives: property

Want to find out more about becoming a successful first-time landlord?

April 24, 2012


Thinking about becoming a landlord for the first time and need some advise?

Propertytalk Live! have a fantastic page on how to become a successful first-time landlord. People are being encouraged now more than before to become landlords as the rental market is booming, you can make a great living from privately renting.

Private rental can be a great business to start up in the current climate

Private rental can be a great business to start up in the current climate

From checking to see if the rental demand is there for renting to making sure you get the right tenants, Propertytalk Live! have a great guide.

CLICK HERE to find out more.


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Rightmove now on Android

March 20, 2012


Rightmove have now developed an app for Android users. This fantastic app allows you to check the area of where your potential new home is by using Google maps and street view.

Rightmove have now adapted their website for Android users

Rightmove have now adapted their website for Android users

You also get to share the properties you look at on Facebook & Twitter plus more straight from the app on your Android.

Being able to view photos and floor plans in full screen make this app one of the best property apps on the market.

CLICK HERE to find out more and to download.

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Squatters, What are the property owners rights?

March 8, 2012


Squatting consists of occupying an abandoned or unoccupied space or building, usually residential, that the squatter does not own, rent or otherwise have permission to use.”

Despite the term ‘squatters rights’ there are steps you can take to get them out of your home. There are certain laws for squatting and there are also different ways of getting them out of the property.

For more information on squatters and your rights CLICK HERE for the Direct Gov website and they provide links to Citizens Advice and more to help you.

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Tenants now renting for longer due to high mortgage deposits

February 18, 2012


Tenants are now renting for longer because of Mortgage deposits being so high and because of the rise of unemployment people are struggling to save money.

The ARLA (Association of residential letting agents) have recorded that tenants spend an average of 19.3 months in their rented homes – this has increased by 20% from 2009.

Landlords should keep all landlord insurance policies and other insurance they may have for their homes up to date. They should also keep up with property maintainance like carpets, curtains and any other fixtures and fittings.

It is advisable to have an inventory agreement between the landlord and tenant so there is an agreement in place to keep the property maintained.

The ARLA (Association of residential letting agents) are a professional self-regulating body who understands the requirements of the residential lettings market and give advice to landlords and tenants. You can become an ARLA member on their website (www.arla.co.uk), also on their website you can see all information on what tenants and landlords can do to work together to maintain a good relationship throughout the tenancy.

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Keep your insurance valid, or massive consequences will occur!

January 26, 2012


Thinking about renting out your property?

 Want to go on a long holiday and don’t want to leave your home empty?

 Sometimes leaving your home vacant may be a better idea!

You want to take a break, a year-long trip but you would also like to keep money coming in while you are away, so you let out your property.

To avoid agent costs you privately advertise your home and get the offer you want almost straight away. You think you are letting out to a nice, young and upmarket couple and go off on your break blissfully unaware of what will happen while you are away.

The holiday is half way through its course when you get an urgent call from your neighbour, you need to fly home immediately because there has been serious damage caused to your home by the tenants.

What you didn’t know is that your perfect tenants in fact like to party, a lot! They have destroyed your home and even personal belongings have been damaged.

The tenants have fled, of course, leaving you with a completely destroyed property. Obviously the first thing you do is contact your insurance company who sympathise with you, but when you tell them it was tenants who caused all the damage they tell you the bad news:

“Ah well I am afraid you are not covered for this as your policy is owner – occupied and not covered for tenants “

That was a big mistake made as now you have to use your own money including your savings to rebuild your property.

The insurance on your property automatically becomes void if you don’t notify them of any changes, it is so easy to phone your insurer and say you are now letting your property out to tenants.

"Ah well I am afraid you are not covered for this as your policy is owner - occupied and not covered for tenants "

You may also want to think about using a professional letting agency, they do take a cut of the monthly rent (around 10%) but you can pursue them if anything goes wrong.

If you do decide to privately advertise your property, make sure you have taken every step to protect yourself and find the right tenants. Never jump into the deep end, do your research and do background checks. Also have guarantors to sign for them to make sure you are not taken for a ride. Always get a deposit from the tenant, usually two to three months rent to cover any costs of damage that may occur.

Make sure you are covered for damaged property!

Remember, tell your mortgage company and insurer to keep your insurance valid!

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Insurance premiums – you can pay a price for risk

December 20, 2011


Do you wonder why you may be getting a higher quote for insurance than usual? Have you recently brought a new property in a new area? You may be in a risk area, below are a few reasons why your premium may be slightly higher than normal.

Property location 

Every insurer uses your postcode to assess the risk. If you live in an area notorious for weather damage (on a flood plain for instance) or the area has a high crime rate, your premium will be higher.

Sum Insured

If your property is part of a block, a listed building or in a conservation area the re-building cost will be higher than usual.

The type of tenant you let your property out to

If you are letting your property to students ( in HMO multiple housing) or people who are on housing benefit, this is a higher risk than a general tenant making your premium higher.

Property age

If your property is very old, has been made with older building materials and using old construction methods, this is deemed high risk to insurers.

Already claimed before

If you already have quite a high claim rate and/or have already had multiple claims, this will go against you when you look for premiums.

If you have a commercial property 

You may be affected by what type of business you have and what separate risks they can produce.

All of these are considered high risk, but CIA Insurance will give you a quote that is hard to beat.


Source – LandlordZone

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Property owners should be aware, protect your tenants or be prosecuted!

October 19, 2011


A man from Huddersfield prosecuted for failing to stick to his landlord duties

A man who rented out his property in Huddersfield has been prosecuted for ignoring the persistent warnings in relation to gas safety in the property. Property owners, many of whom already invest in landlords building insurance, should take extra care and take gas safety seriously and should be reminded of the dangers if they do not protect their tenants.

Gas appliances should be checked by a gas safe registered engineer and give tenants proof and peace of mind that all the checks have been done and everything is operating safely in the property.

Dr Angus Robbins is health and safety executive inspector and inspected the case, said : ” In addition to the risks of fires and explosions from faulty gas appliances, many people are made ill, and some 20 people dies from carbon monoxide poisoning every year owing to poorly maintained gas appliances.”

The landlord prosecuted was fined £3,000 and ordered to pay £2,089.25 in costs.

source http://www.hvnplus.co.uk/news

We hope you found this information useful. Please remember to use CIA Insurance when you or your family and friends need motorcycle insurance, landlords insurance or commercial insurance.

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Rights and obligations- a tenancy agreement

October 4, 2011


What is a tenancy?

  • A tenancy is a contract between a landlord and a tenant what allows the tenant to live in a property as long as they pay rent and follow the rules.
  • A tenancy agreement is the document agreed between a landlord and tenant which sets out the legal terms and conditions of the rent contract. A tenancy agreement should be prepared before anyone rents the property.
  • Tenancy agreement can be either written or verbal, but you should use a written tenancy agreement where possible. This will avoid any disputes at a later date as all the tenancy information will be in writing. Check you understand any terms before agreeing to them!
  • Whether or not a tenancy agreement is in place, landlords and tenants still have certain rights and obligations under the housing legislation.

    Tenancy Agreement...

Rights and obligations under a tenancy agreement

Your rights and obligations as a tenant…

  • You should have the freedom to live in the property undisturbed.
  • The property should also be kept in a good state of repair which your landlord should keep an eye on. They need to maintain the property as you have the right to live in a well maintained place.
  • You should always have the right to access any information about your tenancy at anytime.
  • You should be protected from unfair eviction, unfair rent and you have the right to challenge excessively high charges.
  • The deposit you paid should be returned to you when your tenancy ends.

If you moved into the property before 15th January 1989 you may have a regulated tenancy and additional rights.

Tenants who breach their agreement for example failing to pay rent, you have failed to comply to the terms and conditions and loose your legal rights as a tenant.

Your rights and obligations as a landlord…

  • When the tenancy ends, you have the right to repossess the property.
  • Take back the property if it gets damaged.
  • By giving 24 hours’ notice you can enter the property.
  • Take legal action to evict the tenant, in some cases this is used if the tenant is not paying their rent.
There may be other rights and responsibilities included in your tenancy agreement.

We hope you found this information useful. Please remember to use CIA Insurance when you or your family and friends need motorcycle insurance, landlords insurance or commercial insurance.

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Energy – Deficient properties may face ban…

September 29, 2011


Landlords may have five years to upgrade their properties to a minimum energy standard or risk having them banned from the market. If the rental property has an EPC rating of less than E, they would face criminal prosecution if they put the property on the market.

The Minimum energy efficiency standard could be in action for all privately rented homes in 2016, around 30 organisations have tried to action this and are demanding the new law to be introduced. Over 180 MPs have so far supported this overwhelming demand by and early day motion. It is not clear at this time what penalties landlords may face if prosecuted.

The Energy Bill, which includes the Green Deal, has a new clause that outlaws colder rental properties by 2018. Campaigners are not happy with this, they think this may be too late and the Green Deal leaves too much to chance. The campaigners (including environmental campaigners and a child action poverty group) are arguing that the green deal has loopholes, which means that landlords will be given a life line if they undertake the nessessary improvements with finance being made avialable under the green deal. With this they would be able to continue letting the unacceptable, cold properties because the property may not have been improved to the E branding on an EPC.

Another argument  is that tenants could be evicted because improvements have been asked to be made. Campaigners are arguing for a new law to have basic standards of insulation and heating in every private rented property.

We hope you found this information useful. Please remember to use CIA Insurance when you or your family and friends need motorcycle insurance, landlords insurance or commercial insurance.

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