Maintenance is something to think about throughout the year for any property owner. Only by keeping your home in a good state of repair can you get optimum enjoyment from it and maximise its capital value. Regular home maintenance also allows you to spot or get on top of any problems before they potentially become something major.

Keeping your property in a good state of repair, too, is typically a condition of your property insurance.

With the month of March now upon us, here is a checklist of some of the home care tasks to which you might want to turn your attention. They fall neatly into three broad categories – essential safety checks, scheduled maintenance, and those spring cleaning jobs that help to usher your home into a bright new season.

Safety first

Safety is a priority, of course, so the following simple tasks can be considered essential first steps:

Smoke alarms and CO detectors

• smoke alarms and carbon dioxide detectors are only as good as their last test – so make sure to carry one out right now. In fact, many sources recommend you check your alarms weekly or once a month at the very least;

• do it by pressing the button on the casing and holding it down until you hear the loud siren emitted by the device – and also remember to replace the battery annually;

• safety equipment manufacturers Kidde recommend that you replace these essential safety devices at least once every five to ten years – along with any carbon monoxide (CO) detectors every seven to ten years;

Safe electrics

• during the winter months, your electrical outlets probably came in for more than their usual fair share of use – as those appliances that are no longer needed can be unplugged, check that none of the outlets or circuits was overloaded or poses a risk of shorting or other disruption of supply;

• if you have young children in the house, make a modest investment in some safety covers for electrical outlets to discourage curiously prying little fingers;

• check when you last had your electrics tested – it is recommended that homeowners have them professionally checked every ten years, while landlords should have them checked every five years advises the Skills Training Group;

• landlords are legally bound to carry out such inspections at least once every five years and a copy handed to the respective tenants.

Scheduled maintenance

Remember that effective maintenance relies on a steady schedule and that it doesn’t all need to be done all at once. Even so, March is an ideal month in which to start the ball rolling as your home transitions from the gruelling punishment of winter’s elements to the quieter, balmier days of spring.

Your maintenance schedule for the month might therefore include the following tasks:

The roof over your head

• if there’s one part of your home that needs the utmost attention in your maintenance schedule it’s the roof – it’s what provides the only shelter for the whole building, after all – so, check for any loose, slipped, or missing tiles;

Rainwater goods

• an equally essential maintenance task is the clearance of all the gutters and downpipes – the rainwater goods – of the debris that is almost certain to have accumulated during the winter storms;

Damp and condensation

• keeping the rainwater goods clear of debris plays a key role in discouraging the penetration of water and damp – through the roof, gutters, or even the brickwork of your home;

• damp and condensation can quickly escalate so that you have problems with mould on the interior walls – the heavy showers that are often experienced in springtime will only exacerbate the problem;

• these problems can prove very stubborn to remedy, so prompt action is essential – not only to protect the structural integrity of your house but also to safeguard the health and wellbeing of your family;

Windows and doors

• the winter weather might also have found its way through gaps in your windows and doors – letting in the wind and rain;

• now is the time to tackle those gaps with the appropriate fillers – and touch up any repairs with a protective coat or two of paint;

Central heating

• your boiler – and the entire central heating system – is likely to have been pressed into more or less continuous service during the winter months;

• now that the weather is warming a little and you have the chance to shut it down for a while, it is time to commission a full-scale service so that you can safely leave the system until you next need it the most come the autumn and winter;

• annual boiler inspections are typically a condition of your home and landlord insurance.

Spring cleaning

It’s no accident that the Great British Spring Clean – organised by Keep Britain Tidy – runs from the 15th until the 31st of March 2024.

The month comes in like a lion and goes out like a lamb, they say. In the meantime, therefore, you have the time to start the spring cleaning that will spruce up the whole home and make it especially welcoming to family and friends:

The front lobby

• start your spring cleaning at the entrance to your home – it’s in the hallway at the front door where winter coats, macs, wellington boots and the like are all likely to have been left;

• put them away until next year and you’ve immediately signalled the start to sunnier, drier, and altogether warmer days ahead;

Lighten-up

• you might take a similar approach to the heavier-duty deep-pile rugs that kept you warm throughout the winter months and replace them with lighter flat-weave coverings in natural fibres;

• in the bedroom, that is likely to mean switching the winter-togged duvet for a lightweight summer one;

Dusting

• as the lively beams of Spring sunlight are welcomed into your home, there’s a risk they’ll highlight the dust and cobwebs left over from the dismal Winter;

• take your duster and a vacuum cleaner, therefore, to those inaccessible ceiling corners and skirting boards;

Open to the outside

• March marks a transition from a Winter spent indoors to the promise of a Summer outside;

• so, you might want to take this opportunity to get things ready for that move to more activities outside – blow the cobwebs off the lawnmower and oil those shears, therefore, and begin to get the garden into shape;

A view from the patio

• you’ll want to sit back and admire all that hard work, of course, so scrub the winter’s grime and detritus from the garden furniture, hose down the patio, and launder the soft furnishings.

Home maintenance in March is one of those times when the chores are the most welcome – getting ready for that reawakening of the coming months is bound to put a spring into the stride of your maintenance efforts.

Further reading:  UK property maintenance tips and Spring property maintenance tips.

Whether you are a homeowner or landlord, one of the biggest assets you’re ever likely to own is your property. It is hardly surprising, then, that the value of that property – and the factors that may affect it – remains a critical consideration.

So, let’s make a brief review of the six principal issues that (reportedly) can affect the value of your property.

1. Energy efficiency 

It seems that every other media story about the homes we live in features some reference or other to energy efficiency and broad questions of sustainability.

It is no accident, therefore, that a story in Landlord Today on the 29^th of January 2024 explores the issue of energy-efficient homes in more detail. Indeed, the story asserts that any home that is not energy efficient is likely to be subject to a sharp decrease in its value.

One of the principal objections raised by some homeowners and landlords about making their property more energy efficient is the cost. Yet, as we explained in our article entitled “How to save even more money on your energy costs” energy efficiency is, in fact, the route to reduced expenditure on fuel bills.

2. Location

“Location, location, location” – it’s the well-worn catchphrase of estate agents the world over. And for good reason. It’s the key to any property investment rationale, stress property specialists Beech Holdings.

It is easy to see why the location of a property is frequently the single most critical driving force in determining its value. Location is a prime consideration for any buyer, therefore, and you may also consider the ease of accessibility to other places and to your overall lifestyle.

3. Connectivity

During the restrictions, lockdowns, and homeworking upsurge during the recent Covid-19 pandemic, it was hardly surprising that reliable and efficient connectivity at home became the number one priority – especially, it seems, for renters, according to the Property Notify website at that time.

The issue remains a particularly hot topic and features in a major annual conference and exhibition entitled the Future of UK Connectivity – it is next scheduled to take place at London’s ExCel centre from the 11^th until the 12^th of September 2024.

4. Transport

Access to reliable transport links is frequently cited by tenants on the lookout for property to rent. If you are a homeowner especially concerned about curbing your reliance on the motor car, your valuation of a property may also be influenced by the availability of good transport links.

A fact sheet prepared by Homes England and published on the 2^nd of November 2023 also recognised the importance of transport infrastructure and services in the provision of new homes, along with the capacity of any current public transport services and of the pedestrian, cycling, and road network.

5. Nearby amenities

Wherever you intend to set up home – whether as an owner-occupier or tenant – the proximity of local amenities will help to determine the value of any property.

In a posting dated the 9^th of October 2023, the online property listings website Good Move mentioned the heightened appeal of properties closer to local amenity hubs compared with those in more remote locations. So, homes that are closer to the shops, schools, green spaces, restaurants, pubs, and community centres are likely to win you over quicker than more isolated properties.

6. Crime

If there’s one thing you’re likely to value over and above the price of a property it will be your ability to enjoy it in peace, free from any constant worries about the local crime rate.

Indeed, property specialists Spot Blue assert that crime rates for any particular area are critical to investment decisions. There is a wealth of resources to help you determine the potential impact of crime on property values in your area. These include the interactive Crime in My Area website developed by security firm ADT.

Here is a round-up of some of the latest UK property news stories …

NRLA: Growing the PRS would boost Government coffers by £10bn

An assessment conducted by the National Residential Landlords Association (NRLA) recently predicted that Treasury revenues could be increased by £10 billion if the government pursued policies designed to increase the stock of housing in the private rented sector (PRS).

The current shortage of homes for rent is illustrated by the fact that 11 hopeful tenants apply for every vacancy, says the NRLA.

If the government scrapped the additional 3% stamp duty tax that landlords have to pay on every property investment, it would make for 900,000 more homes for rent in the PRS. That, in turn, would increase incomes and corporation tax takings by the Treasury – bringing in more than an extra £10 billion each year.

House prices begin 2024 on a more upbeat note

After a year of only faltering performance, average house prices in the UK registered a 0.7% increase in the first month of 2024 (it’s best since the same time last year), according to the index maintained by the Nationwide building society. That takes the annual fall in average prices during the past 12 months to just 0.2%.

The modest increase in the performance of the housing market suggests that homebuyers are finding purchases more affordable, says the building society’s Chief Economist.

Even so, the struggle to save a sufficient deposit remains a significant burden – making any significant upsurge in the market unlikely.

Where are the 10 happiest places to live in Great Britain?

For those fortunate enough to be able to make a move, however, the online listings website Rightmove recently published its annual Happy at Home Index – a register of those places in the UK that its residents have voted the “happiest”.

Rated the top three happiest places to live were Richmond upon Thames in outer London, Winchester in Hampshire, and Monmouth in South Wales.

Earning their stripes in the remaining top ten were:

• the commuter town of Wokingham to the south west of London – in fourth place;

• Cirencester in Southwest England;

• Skipton in Yorkshire;

• Hemel Hempstead in outer London;

• Kensington and Chelsea in inner London;

• St Ives in Cornwall; and

• Hexham in Northeast England.

Rightmove: February is the best month to list a home

If you are looking to put a property up for sale, it helps to know the best month in which to make that listing. According to a story in The Standard newspaper on the 25^th of January, February is the best month.

Homes listed in February are taking an average of just 51 days to attract a buyer, says the newspaper – a day more quickly than those first advertised in the month of March. What is more, nearly two out of every three homes (66.4%) advertised in February succeed in securing a purchase. That compares with 66.3% of those listed in March.

The newspaper also suggested that activity in the housing market is also picking up somewhat, with an 8% increase in the number of prospective buyers contacting estate agents compared with the number doing so in February last year. At the same time, there has been an 11% increase in the number of homes listed for sale.

At Cover4LetProperty, we pride ourselves on only using the highest industry strength website security measures to keep your personal data safe at all times. This includes both your application and policy details as well as when you make a payment online.

Our payment systems are secured by Secure Sockets Layer (SSL). This is a protocol for enabling data encryption (which means that the data is coded) and is most commonly used to protect communications between web browsers and servers.

What this means in layman’s terms is that your details are safe with us, and making a payment online is secure.

Further reading on making payments online securely is available from the BBC here.

To begin to answer this question it might be helpful to look at the use to which two different types of property are put:

Home insurance

• a home is where you live – you might be an owner occupier or you might be a tenant;
• if you own the property, you are likely to arrange home insurance to cover both the structure and fabric of the building itself and of the contents you own;
• if you are a tenant, the landlord is typically responsible for insuring the building, but you are still likely to need contents insurance to protect your own belongings;

Landlord insurance

• let property is owned by a landlord as a business proposition – the dwelling is occupied by tenants who pay the landlord rent for the privilege;
• the landlord is likely to want to protect his business investment with landlord insurance, including safeguards against loss or damage to the building and any contents he owns; whilst
• tenants remain responsible for any insurance cover of their own possessions.

At its simplest, therefore, a home is a home, whilst let property is a business asset.

So why is the one more expensive than the other?

To understand why landlord insurance is typically more expensive than standard home insurance, it might be helpful to go back to the basics of insurance itself.

Essentially, insurance is about risk and a calculation of the probability of loss or damage being suffered by the insured item or items. Risk is assessed with respect to the likelihood of loss or damage leading the insured to make a claim, since the settlement of claims paid out to the insured represent a liability for the insurer.

In order to cover the financial liability of having to settle customers’ claims, the insurer charges premiums that reflect the assessed risk of having to pay out in the settlement of a claim.

How it works

A comparison of the ways in which home insurance and landlord insurance might throw further light on the matter – or you might want to consult specialist providers, such as Cover4LetProperty, for the professionals’ view:

Home insurance

• homes are vulnerable to loss or damage as a result of a variety of perils – fire, flooding, impacts, storm damage and vandalism, for example, to name but a few;
• these and other perils are typically included in building insurance, with the structure itself usually insured up to the cost of completely clearing the land, associated professional fees and reconstructing it in the event of a major incident – and where building costs may be entirely different to the price at which the property was purchased;
• contents insurance also covers theft and may include the risk of accidental damage, with claims settled either on the basis of new for old replacement or after the deduction of an amount for depreciation or normal wear and tear;
• home owners have a duty of care towards members of the public, neighbours and visitors and for that reason home insurance typically includes indemnity against property owner’s liability claims;

Landlord insurance

Renting out property is considered a business activity. Landlords are essentially running a small business, and the associated risks and responsibilities are reflected in the cost of insurance. Home insurance is designed for owner-occupied properties, which generally have fewer risks. At first sight it may seem that landlord insurance is designed to cover effectively the same risks;

• whilst it is true that the core element of landlord insurance is also likely to be protection of the structure and fabric of the building, the risks are of a different nature and order if the occupants are tenants rather than owner occupiers – and the insurer’s calculation of this difference is reflected in the higher premiums likely to be attracted to insurance for landlords;
• similarly with contents insurance, where insurers take the general view that an owner occupier is more likely to take care of and prevent loss or damage to the contents of a property than some tenants – the risks are assessed to be higher and this is reflected in the price of the premiums;

• landlords face unique risks that homeowners typically do not. Renting out a property introduces additional risks, such as damage caused by tenants, loss of rental income, or legal liabilities associated with being a landlord;

• property owner’s liability in the case of a landlord is even more critical that in the case of the owner occupier – the landlord has an additional duty of care to take all reasonable steps to prevent injury to or loss or damage to the property of his tenants. Landlords may be held liable for injuries or damages that occur on the rental property, and the insurance needs to provide adequate protection;
• properties used for rental purposes may experience more wear and tear compared to owner-occupied homes. The increased occupancy and turnover of tenants can contribute to higher risks of damage and incidents, leading to higher insurance premiums;
• since let property is at the heart of a business enterprise driven by income from rents, landlord insurance typically covers the risk of interruption of that income stream in the event of a major insured incident which leaves the property temporarily uninhabitable;
• landlords may face risks related to tenant behaviour, such as property damage, failure to pay rent, or legal disputes. Landlord insurance often provides cover (either as standard or as an add-on such as residential let legal expenses and optional rent protection insurance ) for these specific risks, contributing to the higher cost.

Finally, insurance pricing is influenced by market conditions, including the overall risk landscape, claims history, and economic factors. If there is an increase in claims or changes in risk factors, insurance premiums may adjust accordingly.

In summary, it’s important for landlords to carefully assess their landlord insurance needs and choose a policy that provides adequate cover for their specific situation. While landlord insurance may typically cost more than home insurance, it offers protection tailored to the unique risks associated with renting out property.

In the clamour of competing headlines, property news continues to steal the limelight for many of the UK’s landlords. By keeping abreast of the latest changes, you can stay ahead of the game and help ensure that your buy to let business remains profitable.

So, let’s take a brief look behind some of those headlines.

Court rules Section 21 invalid without a Gas Safety Certificate

Any landlord should know of their responsibility for sharing with tenants the results of the obligatory annual gas safety inspection – after all, the requirement features in the latest version of the How to Rent handbook that landlords have to give to all new tenants.

But that annual gas safety certificate could prove even more critical to a landlord’s freedom of action following a decision of the County Court in Hastings, revealed a story by Propertymark on the 9^th of January.

The case in point involved a landlord who installed a new gas appliance – a gas-fired boiler – just a day after new tenants moved in. Although the gas engineer who installed the boiler made sure that it was functioning safely, no gas safety certificate was issued.

When the landlord subsequently attempted repossession of the property by way of a Section 21 notice, the court ruled in the tenants’ favour that the notice was ineffective because the tenants had not been shown a copy of a valid gas safety certificate following the installation of the new appliance.

House prices fall 1.8% over the course of 2023

In its retrospective of 2023, Nationwide Building Society revealed that average house prices fell by 1.8% during the course of the past 12 months.

Its house price index for the year showed that average prices fell across the whole of the UK – where those in East Anglia dropped by as much as 5.2% – with only Scotland and Northern Ireland recording price increases.

Looking ahead to the new year, Nationwide is unable to foresee any marked improvement or activity in the underlying housing market. This is despite a gradual lowering of mortgage interest rates which has encouraged buyers even in the face of poor consumer confidence in the rest of the economy.

Scottish landlords want to sell up

In an article on the 8^th of January, the website for residential agents, The Negotiator, reported that 100% of Propertymark member landlords in Scotland were thinking of quitting the buy to let market and selling their rental properties.

Landlords across the UK as a whole have been tempted to sell up and it is in Scotland, in particular where the buy to let bubble seems finally to have burst.

Commenting on the exodus of Scottish landlords, the Guardian newspaper on the 13^th of November had pointed out that during the past year, rents have risen (by as much as 5.1% despite the rent cap that is in force in Scotland). The increases have been in response to harder times for landlords who struggle with steeper mortgage interest rates and more punitive tax regimes. Those landlords still in business are operating in a market with fewer rental properties available – so rents inevitably rise still further.

Landlords forced to take a hit on costs by asking lower rents

Further signs of the difficulties facing landlords were revealed in a story in Landlord Zone on the 9^th of January.

It noted that the dwindling stock of rental properties had indeed driven steep increases in rent levels towards the end of 2023. Outside of London, rents in other parts of the UK rose by as much as 10% while those in the capital went up by around 6%. Further increases of 5% and 3% have been forecast for the remainder of 2024.

Despite these trends, however, landlords continue to struggle to maintain a profitable business – they still have (higher) mortgage repayments to make, of course. In order to attract dependable tenants, therefore, Landlord Zone has detected a marked number of landlords prepared to drop the price of their initially advertised rent. Such rent reductions have been recorded among 23% of all properties, according to the journal, compared with 16% of rented dwellings at the same time in 2023.

This really depends on your let property insurance policy and the circumstances surrounding the need to change locks.

In some cases, your let property policy may typically provide replacement locks for doors and windows, up to a pre-set amount and subject to certain terms and conditions. Please check your policy document or contact us for clarification.

There are a number of circumstances where you may need to change your locks.

That might include situations such as:

• after a burglary in which they have been damaged;
• after a burglary where, even though the locks are still sound, you believe your security has been compromised by the theft of keys etc.;
• in circumstances where either you or your tenants have lost a set of keys and you wish to change the locks for security reasons;
• situations where your locks have broken or jammed due to age or poor maintenance;
• where you have recently evicted tenants and have been unable to recover the full set of keys or feel copies may have been made of the originals;
• you are just changing locks to higher security models.

The control of keys is typically a concern for many landlords and it is far from unusual to find that tenants have lost or misplaced entire sets. In such circumstances, where you are facing the need to change locks for tenant-related reasons, you may be able to demand that your tenants pay. You may need to ensure though that you clearly highlight in advance through the tenancy agreement that all such charges will be to the tenants’ account.

At the time you take an inventory and prior to your tenants moving in, make sure that the keys and locks situation is clearly and unambiguously documented.

Make sure they sign for receipt of a specified number of keys and accept that all locks around the property are in good working order (assuming that they are).

This may help eliminate at least some of the reasons for needing to change your locks during or at the end of the tenancy.

What do landlords need to know for this year? Here we share 8 things landlords need to be aware of …

1. Renters’ Reform Bill

The landmark legislative change is likely to be progress on the long-awaited Renters’ Reform Bill which is designed to help tenants in several key regards:

• a limit on the frequency with which landlords can increase rents;

• tribunals to hear tenants’ complaints about excessive rent increases;

• the creation of a private rented sector ombudsman service; and

• the freedom for tenants to share their accommodation with a pet – and landlords denied the authority to ban animals.

Perhaps most notably, though, the previously vaunted abolition of Section 21 “no-fault evictions” has been put on the back burner for later implementation.

2. Banning tenants

While the Renters’ Reform Bill remains open to ongoing amendments, the government has recently added provisions that stop landlords from issuing blanket bans on any given grouping of tenants.

In the past, for example, some landlords have specifically blocked prospective tenants from groups such as those in receipt of benefit payments, those with children, or even the disabled. With the passage of the Renters’ Reform Bill, this type of blanket ban will be prohibited.

3. Making Tax Digital

Another government initiative subject to delay is the rolling out of the Making Tax Digital (MTD) scheme for landlords.

Under the revised timetable, landlords earning more than £50,000 a year must complete MTD returns from April 2026 and those earning more than £30,000 from April 2027.

4. Capital Gains Tax (CGT)

It remains to be seen whether a heavier Capital Gains Tax liability will discourage landlords from selling up and leaving the market – but CGT allowances are to be halved again (to just £3,000) from this April.

5. Landlord exodus

Whatever the effects of slashing the allowances for CGT, it is clear that the size of the private rented sector continues to shrink.

A net loss of 300,000 rental properties has been suffered since 2016. 52% of the surviving landlords remain worried about the state of the market, with 10% committed to selling up, according to Which? magazine on the 29^th of December 2023.

6. Mortgage rates

Whereas landlords could once enjoy buy to let mortgage rates fixed at 2%, once these expired, their new mortgages are likely to have been nearer to 6%, according to a story in the Mail Online on the 1^st of January 2024.

As margins become squeezed, some have found that mortgage repayments currently account for almost two-thirds of a landlord’s monthly rental income.

7. Property prices

Along with mortgage interest rates, the initial cost of investing in rental property is also a key consideration for landlords.

In 2024 – as in 2023 – however, it is still unclear whether prices will change at all dramatically. Market analysts remain uncertain about the eventual trend although the Mail Online forecasts an annual fall in prices of around 5%.

8. A Decent Homes Standard

Finally, landlords need to be aware of the minimum standards for private rented housing that were proposed by the government last November.

The goals are set out in a Decent Homes Standard. These establish a number of broad parameters including the overall state of repair of the property, the maintenance of modern services and facilities in areas such as the kitchen and bathroom, and a “reasonable degree” of heating, insulation, and “thermal comfort”.

In conclusion

The year ahead promises a range of significant changes to the private rented sector – landlords and tenants alike will want to keep abreast of them.

Please note this information is designed for informational purposes based on the author’s current understanding of the law and should not be deemed as legal advice.

Renting out property can be a lucrative venture, but it comes with its fair share of responsibilities and complexities. A crucial aspect of this venture is understanding the dynamics of the relationship between a landlord and their tenants. In the United Kingdom, specific legal frameworks and obligations guide this relationship, ensuring a fair and transparent interaction between both parties.

Legal framework in the UK

As a UK landlord, it is imperative to be well-versed in the legal obligations that come with renting out property. Housing laws are in place to protect both landlords and tenants, emphasising the need for compliance to maintain a smooth and lawful landlord-tenant relationship.

Landlord’s responsibilities and obligations

• these are commonly set out in the tenancy agreement which form the legally binding contract between landlord and tenant;

• although there may be variations in the detail, the government website clearly sets out the basic principles and chief areas for which the landlord is always responsible;

• in a nutshell, these boil down to the landlord ensuring that the accommodation provided to the tenant is safe to live in and poses no hazards to the health of the tenants;

• specifically, these health and safety obligations relate to fire precautions and the safety of all gas and electrical installations – most recently, these have extended to the installation of smoke alarms and carbon dioxide detectors;

• further obligations relate to providing the tenant with a copy of the accommodation’s Energy Performance Certificate (EPC), the safe keeping by a third party of tenants’ deposits and the landlord’s responsibility for checking that the tenant and members of the tenant’s household have an immigration status granting them the right to rent the accommodation;

• these obligations have important implications for the landlord insurance with which the owner of buy to let property typically seeks to protect the let premises and his business generally;

• this stems from the general principle embodied in any insurance contract that the insured has a duty to mitigate the risk of any loss or damage – in the same way as though there were no insurance protection in place;

• a landlord’s failure to comply with the law or to exercise a proper duty of care towards his tenants has an impact on his landlord insurance policy in a way that might be illustrated quite simply;

• if a tenant, a visitor or a member of the public suffers an injury on the property and the landlord is shown to be quite blatantly in breach of his duty of care, an insurer is entitled to question any claim on the landlord’s liability indemnity cover and may reduce the amount of any settlement in view of the landlord’s “contributory negligence”;

Renting agreements and contracts

A comprehensive rental agreement is the foundation of a successful landlord-tenant relationship. Key elements, including the duration of the lease, rent amount, and house rules, should be clearly outlined to avoid disputes in the future.

Rent collection and payment

Efficient rent collection is vital for the financial stability of a landlord. Establishing clear payment terms and addressing late or missed payments promptly can prevent potential conflicts. You may also wish to consider Residential Let Legal Expenses and Optional Rent Protection.

Dealing with evictions

While eviction is an undesirable situation, landlords must be aware of the legal procedures involved. Open communication and preventive measures can often alleviate the need for eviction.

Handling disputes

Conflicts may arise during the tenancy. Effective dispute resolution involves open communication, mediation, and understanding the legal options available.

Insurance considerations

Investing in landlord insurance provides protection against unforeseen circumstances. Understanding the different types of cover available is crucial for mitigating risks. If you have a mortgage on your investment property, it may typically be a condition of the agreement that you have adequate insurance in place at all times.

Tenant screening process

Thorough tenant screening is a proactive measure to ensure a reliable and responsible tenant. Adhering to legal considerations during the screening process is essential.

Property inspections

Regular property inspections help identify issues early on. Addressing these concerns promptly contributes to the overall well-being of the property.

Changes in rent or property rules

Landlords may need to adjust rent or property rules. Proper communication and adherence to legal guidelines are essential in implementing such changes.

Environmental and Health Standards

Maintaining a property that meets health and safety standards is a shared responsibility. Landlords play a crucial role in providing a healthy living environment for tenants.

Communication strategies

Clear and open communication is the cornerstone of a successful landlord-tenant relationship. Leveraging modern communication tools can enhance the overall experience for both parties.

Tenants’ responsibilities and obligations

Tenants in the UK have certain rights that landlords must respect. Understanding these rights is crucial for a landlord to create a healthy and lawful environment for both parties. Additionally, tenants also bear responsibilities, and clear communication about expectations can prevent misunderstandings:

• as with any other business contract, the responsibilities and obligations are not all one way and not everything falls on the landlord’s shoulders – tenants have their responsibilities too;

• by far the most important requirement on the tenant’s part, of course, is to pay the rent when it falls due;

• but the tenant also has a general duty to take care of your property and to treat it with the care due to any home;

• the tenant also shares your duty of care towards the safety and well-being of any visitor that may be invited to the tenant’s accommodation – a duty upon which your insurers are likely to insist in the event of any injury or damage to the property of such a visitor;

• the tenant also has a responsibility for informing you about any repairs that need to be carried out – the landlord’s failure to carry out necessary repairs may be one of the most frequent grounds for complaint by tenants, but unless the landlord has been informed of the need, it is not unreasonable to conclude that the landlord is in fact complying with his responsibility for keeping the accommodation in a safe and hazard-free state;

• by the same token, your tenant has a responsibility for granting you reasonable access to the let accommodation in order to carry out any repairs.

In conclusion, a harmonious landlord-tenant relationship hinges on a clear understanding of legal obligations, effective communication, and proactive management. By prioritising these aspects, landlords can create a positive and sustainable environment for both themselves and their tenants.

Further reading:

Top tips on keeping your tenants happy

How to keep a tenant

How to avoid bad tenants

To understand how you might get the most appropriate cover for your let property, it might be helpful to recap the difference between buy to let insurance and standard home insurance.

What is the difference between an owner-occupied mortgage and a buy to let mortgage?

Quite simply, properties that have been bought to let are quite different to those occupied by their owner.

An owner occupier’s mortgage is designed for individuals who intend to live in the property they are purchasing. It is a personal residence loan tailored to homeowners who plan to occupy the premises themselves.

A buy-to-let mortgage caters to individuals investing in property with the intention of letting it out. It’s a financial tool for those seeking rental income and long-term property appreciation.

Landlords insurance

The distinction in the use of the property carries over into the type of insurance that is needed.

If the property is going to be occupied by tenants and you are earning an income from the rent they pay, purpose designed landlord or buy to let insurance is required. Not only is standard home insurance insufficient, but if you rely upon it for a let property, any claim may be rejected by your insurer.

In recognition of this critical distinction, here at Cover4LetProperty we have developed a special expertise in the provision of the insurance needed by landlords.

Making the most of the landlord’s insurance you buy

When arranging any kind of insurance, the most critical consideration is securing the cover you actually need, given your particular circumstances and requirements.

Just as it is important to get the cover you need, it is equally important to avoid paying for cover that you do not need – paying too much for your landlord insurance ultimately affects the bottom line of your buy to let business by unnecessarily inflating your operating costs.

The appropriate cover, therefore, is the insurance that delivers the protection demanded by your individual circumstances as a landlord – at a competitively rated price:

Building insurance

• central to your buy to let business, of course, is the property itself;

• this needs to reflect a worst case scenario in which the building is completely destroyed, a total loss, and the area needs to be cleared, surveyors and other legal professionals employed and, the property being rebuilt from the ground up;

• reconstruction costs are clearly quite different to the price you may have paid for the property or even its current market value – a helpful calculator for computing changes in rebuilding costs is published by the Royal Institute of Chartered Surveyors (RICS);

Contents insurance

• there may be considerable variation in the amount and value of landlord-owned contents in any let property, such as in communal areas;

• the total contents sum insured clearly needs to reflect these values accurately if you are to find the most appropriate cover for your let property;

Malicious damage

• it is a sad reflection on the type of business you may be in, but some tenants may be guilty of causing malicious damage either to the building itself or to the contents you own;

• relatively few insurers extend cover to include the risk of malicious damage, so you might want to single out those policies which do (the good news is that we do offer this cover as standard);

Public liability

• public liability cover, property owners’ liability or landlord’s liability indemnity is especially important in the case of let property;

• if one of your tenants, one of their visitors, or a member of the public suffers an injury or has their property damaged, they may hold you liable as the property owner;

• claims of this nature may be very substantial indeed and if you want the most appropriate cover for your let property, it is by no means unusual to seek cover for at least £2 million;

Loss of rental income

• as a landlord, you are running a business;

• if your let property becomes uninhabitable following a major insured event, the rents which form your business income stream are disrupted;

• landlord insurance, therefore, typically offers an element of compensation for any such loss of rental income;

Property portfolios

• the business you are running might involve not just one, but a whole portfolio of investment properties which you are letting to tenants;

• in that case, you might want to consider whether the more appropriate form of insurance is one that extends protection to your entire portfolio via property portfolio insurance, rather than cover for each residential unit separately;

• with an umbrella policy such as this – covering your entire portfolio of properties – you are likely to enjoy substantial discounts on your overall insurance premiums.

Getting the most appropriate insurance cover for your let property is therefore worth more than a second thought and something which you might prefer to entrust to a specialist insurance provider. At Cover4LetProperty we will be delighted to help you find the most appropriate let property insurance, either via our online landlord insurance quote system or via the telephone on 01702 606 301.