Services

FIVE: Specialist insurers can often offer other useful services alongside their main product range. Many have low cost tenant referencing schemes and the likes of HomeLet also offer emergency assistance policies on top of the standard tenant cover. These promise 24 hour help with domestic crises like burst pipes or broken heating systems. Being able to take early action should help protect the fabric of your investment, reduce your stress levels and make your tenants more comfortable in their home. If you are diversifying your property portfolio the right insurer should also be able to grow with you. The likes of Quote Line Direct and LandlordInsurance.co.uk. Direct will also cover holiday homes let out for a few weeks at a time.

FINALLY: It is worth trying to persuade your tenants to take out their own contents cover to protect their possessions. Anecdotal evidence suggests that people who protect what they own are likely to be more stable and careful residents – and more aware of the value of the things around them. Several insurers do now offer specific policies for tenants, including Endsleigh and HomeLet. If your tenants do have cover and accidentally damage your property they can claim for it against their policies, rather than forcing you to use yours.