Will landlord’s insurance still pay out with end of Section 21?
Hello, I have a serious concern about Michael Gove who is practising divide and conquer between landlords and tenants. If a landlord can no longer evict a tenant via a Section 21 notice, then I believe that they won’t be able to submit a claim via their landlord’s house insurance as my policy states that they won’t cover the landlord unless the landlord has evicted the tenant via a section 21 or another form of notice.
I have had to use Section 21 Notices to evict tenants who were upsetting my neighbours, running a business from the house and not looking after it. They refused to let me in after the pandemic.
No neighbour would give any evidence as they feared the tenant and it would mean if they sold up, they would have to legally report to their buyer that they were in conflict with the next-door tenants. So, their house sale would probably collapse.
The tenants eventually left, but I had £10k worth of damage to my house. I only got back £1,800 from the TDS scheme. The government have several billion of tenant’s money in this scheme. They soon won’t have!
My insurance costs have doubled since the pandemic when the government banned evictions!
Will our insurance policies either not cover us due to the Renters Reform Bill changes, or will they put up the insurance costs?
Has the insurance industry been consulted about this?
Thank you,
Mark
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Member Since August 2013 - Comments: 24
11:56 AM, 17th May 2023, About 3 years ago
Any changes in the law won’t come into force for some time – I would guess 2-3 years after this Bill becomes an Act for new tenancies, longer for existing ones – which gives plenty of time for insurers to update their terms & conditions.
Everyone’s going to be the same boat, so insurers will need to do something.
Member Since May 2023 - Comments: 1
5:02 PM, 17th May 2023, About 3 years ago
They have already done away with Section 21 in Wales from 31 May 2023. Therefore it’s only a matter of time before it becomes law in England too. It would appear that the only way to evict is when tenants are in serious rent arrears or anti social behaviour. I may be wrong but reading the new leases/contracts that we have to issue as demanded by Welsh Government there is no other way to evict. Section 21 has worked for as long as I can remember and why change it? Like many landlords I may sell up. The new EPC laws don’t help. The government just won’t listen to Landlords unfortunately.
Member Since October 2022 - Comments: 402
8:46 PM, 17th May 2023, About 3 years ago
Reply to the comment left by Sally Black at 17/05/2023 – 17:02
Yep I’m with you the sell up. I think the rental market will become major PLC’s who can afford the losses. Landlord with a portfolio of 15 can’t.
Apparently it’s to prevent revenge eviction from disrepair. So is he saying councils are not using their enforcement powers under part 1 of the Housing Act 2004 or are they just desperate to get votes?
Member Since May 2023 - Comments: 4
8:47 AM, 21st May 2023, About 3 years ago
Reply to the comment left by Sally Black at 17/05/2023 – 17:02
I hope the government end up with serious housing crisis. They are bringing it on.