The importance of insurance cover during the renting process
As you may have guessed from our company name, we specialise in providing the right property services for landlords and tenants alike. In particular, we assist landlords and tenants in their efforts to find the right letting deals for their individual circumstances. As we are one of the best businesses working in room to rent Portsmouth has to offer, people repeatedly come to us expecting high quality services and noticeable results. Fortunately, this is exactly what we do.
Whilst preparing to rent out a room, there are many variables to consider, and arguably the most important is insurance. The legal body that insures your property must be informed if you intend to take in guests or regular lodgers. It is highly recommended to inform your insurance company of any changes before your policy requires renewing. Although there’s a small chance of this affecting your premiums, insurance establishments reserve the right to refuse a claim if you’ve neglected to tell them about lodgers.
It’s difficult to determine how your guests will treat the property; maybe they’re accident-prone, spilling things on your carpets every five minutes. They may even be heavy handed or just clumsy. When certain companies calculate insurance premiums, they will evaluate the number of tenants in the property and how these tenants use the property. Providing insurance companies with accurate data of these factors is essential to evaluating potential risks.
During the process of selecting lodgers, it’s crucial that you undertake a criminal background check on any potential tenants. If they happen to possess any unspent convictions, your insurance claims have a chance of being declined. Motoring convictions however, (like parking fines and speeding tickets), hold zero relevance to home insurance, and therefore don’t normally need to be declared to insurers.
At T1property, we strive to offer the best services for room to rent Portsmouth that tenants and landlords could ask for. Our team, using their years of experience, will guide you through the entire process from start to finish and will be on hand to answer any queries you might have, no matter how large or small they may be.
If there’s anything we can do to help, contact us today to see how we can find the right services for all your letting needs.