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News Article

"In May, you MUST give your Tenants the Renters Rights Information Sheet or

YOU RISK  - £7,000 FINE  PER TENANT PER PROPERTY."READ MORE

Reference Service advises student landlords check insurance policies' summer cover

12th Aug 2014

A tenant referencing service is warning all landlords who rent properties to students, to make sure that their building insurance properly covers them over the empty summer period.

They are warning landlords that during the summer when their properties are vacated, that they are wide open to theft.

Most thieves are only too aware of student properties  that lie dormant during the long summer holidays and will target the properties because there are rich pickings such as TV's, laptops and electronic gadgetry, so favoured by the age group.

That is why students are in the top high risk groups, some landlords do offer "summer rents" as an incentive to keep the same group of tenants for the next academic year.

Graham Kinnear, managing director of the tenant referencing service said: "Landlords should ensure that the building insurance remains valid in the event that the property stands empty between July and September.

“Often students leave expensive equipment and possessions in the property over the summer, so it is essential to check that the appropriate cover is in place.

“Some building insurance policies require that the insurer be notified in the event that the property is to be vacant for in excess of 30 days.

“For many student landlords, whose tenants return to their families over the summer period and do not plan to return until the start of the next academic year, failure to inform the insurer could mean that they may not be covered in the event of a break-in or malicious damage caused to the property.”

Stephen Parry, commercial director of the firm said: "Landlords are advised to check the cover that they have and ensure that it meets their needs and requirements and note the points regarding periods where the property is empty.

“While less likely to be an issue for a standard private let it is invariably the case that a student property could stand empty between July and September each year.

"Furthermore, landlords should be clear on the position in the event that they allow their new tenants to store furniture and other belongings in the property in readiness for the autumn."


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"In May, you MUST give your Tenants the Renters Rights Information Sheet or

YOU RISK  - £7,000 FINE  PER TENANT PER PROPERTY."READ MORE

 

 

 


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