Landlords House Insurance - Landlords Insurance

Last year saw the average weekly rent for a student increase by 10% to £60. Areas such as Cambridge, Oxford and London saw the rise increase to on average £82 whilst other areas such as Birmingham, Manchester & Wolverhampton have seen the weekly rent come in at well below the national average at about £45.

This area of the buy to let market has changed due to the fact students are accumulating large borrowings to subsidise the cost of accommodation, which is a major in the choice of their seat of learning.

With the increase in the rental income this area of the buy to let market has become more appealing to landlords and as you would expect the choice of accommodation for the average student has increased enormously. The standard of the property and especially the quality of the fixtures and fittings continues to improve and this sector of the market is no longer consider as buy it cheap, pile it high.

The knock on effect to the insurers is that the student sector has become more appealing and has seen a shift in underwriting philosophy that is closer associated with properties tenanted by professionals.

Most of the UK leading online landlords insurance providers, now apply similar rates, policy terms and conditions to students as it would professional lets. Whilst some providers are slow to follow this lead it is thought more and more insurers will also consider student let properties as good, attractive business.

Many landlords are letting their properties fully furnished and use the facility provided by companies offering all-in-one furniture packages. The packages can extend to include items in the kitchen, bathroom, lounge and bedroom. Such items as microwaves, kettles, toasters, bath mats, toilet brush, sofas, coffee tables, double beds, wardrobes and many other items. This form of furniture package deal is becoming more and more common place in the buy to let industry.

Other organisations with the buy to let industry, include property management companies. Their principal activity is buying houses and flats and renting them out to young professionals and students. They extend their duties further by managing properties for other landlords and buying land for construction and older properties for renovation and conversion.

The landlords market is not simply limited to insurance and furniture providers. Other companies that have seen the potential for profits include tax consultants, solicitors, carpet manufacturer, mortgage providers and tradesman such as locksmiths and property security services.

In respect of the insurance products associated with the buy to let market things extend to include; buildings and contents insurance, legal expenses and emergency assistance cover, tenant referencing, rent arrears cover, landlord’s contents & tenant’s contents insurance.