Can you risk having a tenant from hell move into your property? Or even a dream tenant who gets unlucky?
All landlords need to ask these questions – whether you are a new buy-to-letter renting out a single property or an established owner with a string of homes in your portfolio.
Problems with tenants can produce huge financial headaches for buy-to-let owners – most surveys of investors say they are the biggest single worry for landlords, far above fears about rising interest rates or falling house prices. So that’s why it is so important to know more about tenant insurance. The right policies mean you escape the worst financial hits if things go wrong in your properties – and they will also provide the financial backing and legal help to put things right as fast as possible. Many long term landlords say they couldn’t do without the policies.
Neil Simpson is a former Personal Finance Journalist of the Year and writes regularly on insurance and property issues for the Mail on Sunday, City AM and many other publications.