An A to Z list of what you should know about Landlord’s Responsibilities and Insurance for residential let properties, let under Assured Shorthold Tenancies.
Tenanted Property Insurance
Tenanted Property Insurance is the same as Buy to Let Insurance and Residential Landlord’s insurance.
Tenants
Tenants are normally classified into types for insurance underwriting purposes. The main category is Professional Working tenant. Another category is those who receive help with the payment of their rent through Social Services (DSS). The third most common category is Students. Fourth is Asylum Seekers and last but not least are those properties which are let to Local Councils or Housing Associations.
Unfurnished (Definition for Insurance Purposes)
Does not contain enough furniture for normal living purposes
Unoccupied (Definition for Insurance Purposes)
Not lived in by You or by anyone who has Your permission.
We would advise that under the buildings section of an insurance policy, it is standard practice for an insurer to exclude loss or damage resulting from; malicious acts, escape of water from water tanks, pipes or apparatus or fixed heating system, freezing of water in tanks, apparatus or pipes, leakage of oil from a fixed heating system, theft or attempted theft, breakage of fixed glass and sanitary fixtures are all excluded after the Home has been left Unoccupied or Unfurnished for more than 60 days (with some insurers the period is longer and/or can be extended if required) in a row.
Under the contents section the policy states that loss or damage resulting from; malicious acts, escape of water from water tanks, pipes or apparatus or fixed heating system, leakage of oil from a fixed heating system, theft or attempted theft, contents in the open are all excluded after the Home has been left Unoccupied for more than 60 days (with some insurers the period is longer and/or can be extended if required) in a row.
Vermin
Damage caused by vermin (including moths and other insects) is a standard exclusion under most, if not all, insurance policies.
Water Meters
Having a water meter installed means that in addition to the fixed charge the only other money paid is for the water used. It is standard practice for Water Companies to insist that a tenant, if they would like to have a water meter, obtains written permission from their landlord prior to any pre-installation survey being carried out. Should the property have a water meter it should be read at the beginning and end of each tenancy and a record kept of the relevant readings.
Xenodochium
A house for the reception of strangers. In the Middle Ages, a room in a monastery for the reception and entertainment of strangers and pilgrims, and for the relief of paupers. (Well – you cannot say that we are not informative – we weren’t going to be beaten by the letter x)
You, Your (Definition for Insurance Purposes)
The person (or people) named in the insurance policy schedule.
Zoning
It is highly unlikely that any Landlord will have problems with the possible zoning of a particular area. However, city or county authorities do have regulatory powers in the control or the specifying of the type of use to which the property may be put in specific areas; should they wish to exercise such powers.
