Tag Archives: Malicious Damage

Boiler Theft – Copper and Carpets Too! Latest Articles

I had a call about one of my properties in the Middlesbrough area that has gone downhill quite a way since I bought it 10 years ago.

It was one of John Paul’s merry crew at Castledene who told me that the place has had its back door kicked in, all copper piping, cable, boiler and even the almost new carpets pinched. It has been void for 2 months despite the offer to the local Homeless Unit and other caring organisations.

Evidently there are no homeless people in Middlesbrough who would like what is effectively a free (LHA rate only) 3 bed house, newly decorated and carpeted, with a modern gas central heating system and UPVC windows and doors. I am even throwing in cable TV and broadband free for 6 months and £100 to help with removal expenses!

So the loss adjuster has been in and sucked air through his teeth and we are in the process of getting estimates to make good. It hits the 90 day vacant limit of my insurers next week (The NLA members scheme at Alan Boswell) and I am told that none of the insurers they use for vacant property will accept it while a claim is in progress, so I am not going to have theft, accidental or malicious damage cover as of then.

Crime Prevention officers helpfully suggest that we don’t reinstate pipes, cables or boiler until, immediately before occupation. Not realistic as it’s hard enough to let as it is!

I have bleated to the council asking what is being done about this result of their selective licensing elsewhere in Middlesbrough driving the less desirable to my area. No useful reply as yet despite the mayor being Ray “Robocop” Mallon the former controversially tough “Zero Tolerance” copper.

http://en.wikipedia.org/wiki/Ray_Mallon

Questions:

1. How to get insurance worthy of the name until I have a tenant
2. How to get the place (and one in the next street) tenanted
3. (Nobody expects the Spanish Inquisition) Best security measures to prevent a repeat. There is an alarm system there, which I am looking into having reinstated, assuming it isn’t working, and I plan to arrange curtains, blinds and lights on timers.

Many thanks

Jerryburglary


Dilemma – insurance claim required but no consent to let Latest Articles, UK Property Forum for Buy to Let Landlords

I have been reckless in not informing my mortgage lender that I’m renting my property out, however my most recent tenants have left the place in a state and I need to claim on malicious damage.

I’m concerned firstly that my insurer will contact my mortgage lender, and secondly if they do inform them, what are they likely to do?

Luckily there are no tenants in there at the moment so no one can be evicted, but can my house be repossessed?

I’ve never missed a payment, however the mortgage does have a guarantor on it.

My final concern is if the mortgage company demand repayment or switch my mortgage to a buy to let or black mark me, will this affect the guarantor as well or just me?

My thoughts are to stay away from the insurer and just foot the bill for the damage caused?

On another note, I would like to do things properly and request permission to let. If the mortgage lender says yes, is there any way of them finding out that I’ve already been renting it without consent?

In an ideal world id like to do the right thing with as little consequence as possible, whilst I know some mistakes will have to be paid for, if anyone has any advice on all the above I would be eternally grateful!! Dilemma - insurance claim required but no consent to let

Thanks

Jenifer


Tenant Referencing Using Common Sense Advice, Latest Articles, Property Investment Strategies, The GOOD Landlords Campaign

Common sense tenant referencing was pretty much the only option available when I first became a landlord and started letting property in the late 1980’s. Tenant Referencing Using Common Sense

In this article I am going to explain what my family do to find the next perfect tenant, right from the day an existing tenant let’s us know that they want to move out. More often than not these days, tenants think they can serve notice with just a phone call, email, facebook or text message – more about that later. Continue reading Tenant Referencing Using Common Sense


Landlords Insurance – don’t get penalised if you are a good risk Landlord News, Latest Articles, Property News

Why is landlords insurance for Working/Professional HMO’s, Student lets and tenants claiming benefits so much more expensive?

In a word – RISK

However, as it transpires, it is possible to insure any rental property in the UK for a premium of £1.10 per £1,000 of cover plus Insurance Premium Tax providing there is a decent claims history and the property is structurally sounds and not in a flood plain area. That’s around 50% of standard pricing for these types of properties!

For landlords insuring a portfolio of three or more properties and a mix of risks (i.e. some standard houses and working tenants too) the premium can be reduced by a further 10 pence per thousands of buildings insurance through commission sacrifice by the broker. This is because the administrative costs are lower when spread across multiple properties insured by the same owner.

I was given the heads up on this by a couple of Property118 Members and felt compelled to follow this up.

Not only does it check out well but the cover also includes the following:-

  • Malicious damage caused by tenants
  • Landlords liability insurance
  • £5,000 of contents insurance as standard

It doesn’t cover any criminal damage as a result of properties being used as cannabis factories but most insurance companies don’t offer that cover anyway. There are several articles written here to help you reduce that risk too so please search cannabis factory in the top right search bar for more information on how to protect yourself.

The broker offering this scheme has agreed to make a generous donation to The GOOD Landlords Campaign if we test them out.

They are not our regular recommended insurers for our Landlords Buying Group at this stage but we do keep our options open and it will be interesting to see what feedback we get from readers we refer to them.

If you would like further information please complete the contact form below.Landlords insurance

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Malicious Damage Caused by Tenants Landlord News, Landlords Insurance, Latest Articles, Property News, UK Property Forum for Buy to Let Landlords

Malicious Damage Caused by TenantsA lady who prefers to remain anonymous has written in to explain that she has experienced malicious damage caused by tenants to a property she spent £6,500 on renovating just three years ago.

Apparently the tenant had absconded and stopped paying rent and after serving the relative notices and gaining possession the Police finally broke in to find that the tenant had:- Continue reading Malicious Damage Caused by Tenants


Live-in Landlords Survey Results Landlord News, Latest Articles, Property News

The number of homeowners taking in lodgers (“live-in landlords”) has risen for the seventh consecutive year and rose by more than a quarter (25.4%) between 2011 and 2012, having risen by 18.4% between 2010 and 2011.

Worryingly, 37% of homeowners who take in lodgers may not be properly insured. A third (33%) of live-in landlords don’t realise that it could invalidate their home insurance, according to a new survey conducted by SpareRoom and Property118.com. Continue reading Live-in Landlords Survey Results


How to avoid cannabis factories Landlord News, Latest Articles, Property News

Cannabis factories

As promised, following my last article, I wanted to give you some tips on how to avoid cannabis factories.

A cannabis factory is simply changing part or all of a home to grow cannabis plants. Plants are kept in potting tubs, set out in rows, requiring lots of artificial sunlight to grow. Given that one plant can provide around £2-300 of cannabis every 3 months, the earnings potential are massive. A small operation of 50 plants can generate returns of £40-60k per annum! Continue reading How to avoid cannabis factories


WARNING – Your landlords insurance may be invalid Guest Articles, Guest Columns, Landlord News, Landlords Insurance, Landlords Stories, Latest Articles, Lettings & Management, Property News

I wanted to share with you a recent ‘near miss’ with one of our landlord’s.

We had taken on a new portfolio and as part of procedure, we attempted to carry out an inspection by contacting the current tenants. We had no success with 2 properties despite letters, calls and turning up ‘on spec’.

Ultimately we attended with a locksmith – and found that both had been used as cannabis factories. Boilers, radiators, piping and wiring had been removed and the plaster work through out damaged (I’ll produce a follow up email on how to avoid cannabis factories soon). Continue reading WARNING – Your landlords insurance may be invalid


My Landlords Insurance is up for renewal again Buy to Let News, Landlord News, Landlords Insurance, Landlords Stories, Latest Articles, Property News

As I sifted through the post this morning I thought to myself ‘how time flies‘ – my landlords insurance is up for renewal again.

Landlords Insurance RenewalIt’s nowhere near as painful as it used to be though. Several years ago it dawned on me that for some reason a very high percentage of landlords insurance policies are renewed on 1st September. I’m not really sure why so many come up for renewal on that date but it got me thinking. What if I could round up a few friends who also have a lot of property and try to negotiate a better deal with a broker based on them having an opportunity to quote for all of our business?

Continue reading My Landlords Insurance is up for renewal again


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