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Rent
Guarantee Insurance These
policies are invaluable for many landlords. As a tax deductible premium this will
guarantee you receive the rent you are expecting from your property regardless
of your tenants personal circumstances, ability or willingness to pay the rent. If
you have a mortgage on the property or have calculated your rental income verses
your outgoings this will ensure you do receive your rent. Most such policies will
include the legal expenses, as detailed above. You will receive your rent and
the legal fees to obtain vacant possession will be covered. Policies
will usually guarantee your rental for a fixed period, typically 6 or 12 months.
Some policies will provide additional cover once you have obtained vacant possession
until you are able to re-let your policy. The
costs vary from a fixed cost policy or are commonly rated as a percentage of the
annual rental figure, typically 3-4%. 
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Property
Portfolio Insurance (Advertisement)
 If
you own Two or more Rental Properties? HomeLet are the first in the market
to provide an online quoting facility.
- One policy
for
the whole portfolio
- Flexability
to add and / or remove properties covered by the policy
mid term.
With
HomeLet
Landlords Portfolio Insurance you have ONE policy for
your entire portfolio and could save up to 45% (this figure is based on leading
provider's individual policy premiums). - Comprehensive
cover at competitive prices
- No
restrictions on properties unoccupied for up to 90 days
- Cover
for loss of rent following a claim - up to 30% of sum insured
- The
option of accidental damage including malicious damage caused by your tenants
- Up
to £10 Million Employer's Liability
- Up
to £5 Million Property Owner's Liability
- Option
to insure landlords contents up to £60,000
- PLUS
an option to take nil excess to protect you from any further costs should you
need to make a claim
*
Based on leading provider's individual policy premiums Your
portfolio cover will include the re-build of your property following loss or damage
caused by: - Fire.
lightening, explosion, earthquake, storm or flood
- Escape
of water or oil leakage
- Collision
by aircrtaft, vehicles or animals
- Falling
trees or branches
- Theft
by forcible means
- Subsidence,
landslip or heave
- Riot/civil
commotion
Above
Information supplied by HomeLet - Terms and conditions may vary, so check details
fully when you enter their site HomeLet
is a trading name of Barbon Insurance Group Ltd, Registered Office: 4-9 Highview,
High Street, Bordon, Hampshire, GU35 0AX, England who are authorised and regulated
by the Financial Services Authority in the UK. Their FSA Register number is 308724.Jeffrey
Milner Ltd T/A jml Property Services acts as introducers to HomeLet 
To
enter the HomeLet site and
obtain for Landlords Portfolio Insurance or
Landlord's Insurance
for individual properties
Click
Here and
click on Landlord's Insurance Back
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Buy
To Let - Beware Of The Extra Costs That You Have Not Budgeted For By
Philip
Suter I
have been involved with the property business in England for nearly thirty years.
I had been part of that sector of the community that owned investment residential
property before it was fashionable and it was interesting to try out the reality
in 2006 of “Buy
to Let”. The
plan was to purchase a one bedroom apartment in an area with plenty of employment,
close to good communications and that would not need too much capital expenditure
on it. Being involved with the residential letting market in the south of England,
I know that a lot of areas are being too well developed. Numerous blocks of apartments
are being built and investors contact the agents and say they will buy three or
four apartments in the same development. They then wonder why they are not let
quickly and often discover that in a development of say 100 apartments, only 20%
are owner occupied and the remaining 80% have been bought by investors. The
prospective tenant is spoilt for choice although many investors do not want to
go to the expense of furnishing a property. They need maximum return on their
investment and will often approach local letting agents wanting their fees cut. My
search was therefore in a more established area, an older property that would
let well and not as expensive as a brand new slightly more modern property. Most
of the research was done on the Internet and eventually a couple of suitable properties
to look at found. A decision was taken immediately and as the finance had been
agreed within a week the Mortgage Lender’s surveyor had inspected the property. We
had found a property that had wood laminate floors, would need decorating and
some updating in the bathroom and had been let out for the past couple of years. The
process started early in August and by November the deal was completed. The decorating
contractors moved in. The extra expenditure also started. On closer examination
the kitchen flooring had to be replaced, the small number of tiles on the kitchen
walls had seen better days and had to be replaced. The
good news was the local letting agent had found a tenant (whilst the work was
going on, although we had not instructed them too early as tenants normally like
to see the finished product) and this person wanted to move in before Christmas
that was just around the corner. The
property looked good; the tenant moved in – a complaint within a few hours – no
water pressure. There is a shower mixer tap in the bath, but although it looked
good, did not really work. I
asked the contractor to take a look at it. There was no point in putting in a
pump as the hot water tank was too small and the cold water feeder tank equally
small. The property was built in the late 1980’s and it would take hours to fill
a bath! There
was only one alternative – a new water system. Unfortunately this could not be
fitted till after Christmas as it had to be ordered and with the annual Christmas
closedown in the UK our tenant was not going to be able to have a proper bath
or shower. Fortunately this person was going home overseas for Christmas. In
early January the job was completed. Some £1,500 of additional expenditure that
was not budgeted for. Remember
Always add on an amount to your budget for additional building work or repairs
that you thought would not be needed. Allow
for that fact the Mortgage interest rates seem go up more frequently than come
down. There
can be void periods before or after a tenancy when bills still have to be paid. Be
flexible regarding furniture. A lot of people simply do not have furniture so
check out local market conditions. You can do this by talking to a local letting
agent or viewing properties on the web. In the UK there are a lot of property
portals offering rental property. Finally
make sure that you take out the appropriate Landlord’s
insurances. Philip
Suter is a Director of jml Property Services; jmlproperty.co.uk
a UK based company offering Insurance products on line at jml-property-insurance.co.uk
and a holiday home advertising service.jmlvillas.com
and management training within the uk. He a travel writer and is a very experienced
property consultant with over 30 years work in the Residential letting business
in the UK and served on the National Council of ARLA. He is a Fellow of the National
Association of Estate Agents (NAEA) and a Member of The association of Residential
Letting Agents (ARLA) See
also How
to present your rental property for letting How
not to present your rental property for letting Back
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The 1980 Housing Act introduced
the Protected Shorthold Tenancy and from that time onwards more and more people
have turned to property letting for additional income.
NALS-
NAEA –
RICS- 
etc.
Gardens:
Tenants generally do not like gardening. Think very carefully
if you are going to buy a property with a very long back garden. Who will maintain
it? A gardening service can be expensive, but you should be able to offset the
costs off your tax bill. Consider making the garden easy to maintain – gravel
on the flower borders, good size patios for barbecues in the summer and if you
still have a lawn remember to leave equipment to maintain it with. 
This type of cover will provide assistance for the landlord and the tenant in
the event of an emergency at the property such as: Failure of the electricity
supply - Failure of the cooking facilities - Lost keys - Plumbing problems - Leaking
roofs or guttering - Security of doors and windows. Policies will provide parts
and labour cover up to a specified amount and either the landlord or the tenant
can call a 24hr 365 day Helpline. (Check out the
details on offer
from the insurance company)