Paul Absalom

Registered with Property118.com
Tuesday 30th July 2013


Latest Comments

Total Number of Property118 Comments: 2

Paul Absalom

13:43 PM, 30th July 2013, About 8 years ago

Rent to Rent Success Stories

Reply to the comment left by "Mark Alexander" at "30/07/2013 - 13:26":

I guess all properties are insurable at a price... If there is no end tenant information available then yes an insurer will rate on the worse case scenario basis. All any property owner can do is to gather as much relevant information as possible and relay that information to their insurer. The important thing here is to fully disclose the situation to your insurer.... Read More

Paul Absalom

13:23 PM, 30th July 2013, About 8 years ago

Rent to Rent Success Stories

Reply to the comment left by "Mark Alexander" at "30/07/2013 - 09:53":

There are 2 issues here….

1. If any your landlords rent a property themselves which was on a single AST and then re-let it on an HMO/multilets basis pocketing the balance in additional rent… there are no insurance issues as presumably the owner landlord has it insured already… He may ask the landlord subletting what type of sharers are occupying the property (eg) students, multilets to working sharers, multilets to DSS sharers… if your landlords were the ones sub-letting.. but if this is accurately declared the insurer will cover the property…. Some insurers charge a higher rate for HMOs or students… we don’t, but we do for DSS multilets!!

2. If however your landlords are the ones letting their owned property out on a corporate let to a Lettings Ltd Co who then takes out a 2-3 year lease and then this Ltd Letting Co then fill up the property themselves and don’t declare the type of final end tenant, then I guess yes there will be a problem!.. Insurance is about perceived risk and charging an appropriate rate for that risk… Not knowing who will occupy the property causes all sorts of issues as the tenancy group is a “material fact” in determining the premium or appetite to insure… If it is a straightforward working or student sharers property there should be no problems but what if the Co let it to asylum seekers, hostel for drug addicts or criminal re-offenders !! I guess that we could arrange cover at a slightly higher premium as long as there was something in the lease restricting the type of tenants that could be placed in the property.... Read More