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You are here: Home / Uncategorized / random / Ways Landlords Can Help Rental Tenants During The Testing Cost Of Living Crisis

Ways Landlords Can Help Rental Tenants During The Testing Cost Of Living Crisis

March 23, 2023 · by munchiesandmunchkins · Leave a Comment

You’d have to be living under a rock to not know we are in difficult times financially in the UK right now. Everything has increased from general grocery shopping to mortgages and when mortgage rates go up inevitably rental rates do too. I know a growing number of people who are struggling to meet mortgage payments and an even bigger number of people who are just not able to find affordable rentals.

A friend of mine has recently found out her landlord is selling up, it is not really surprising as many landlords just cannot afford the mortgage rates that are ever increasing and are being forced to sell. Then obviously you have the fact that as the cost of quite literally everything goes up they are aware that every little thing that goes wrong with the property is going to cost the landlord that little ( or lot) more. CIA Landlord Insurance can help with that. They are a broker set up to find you the best insurance as a Landlord and that in turn can help your tenants.

Landlord insurance can protect against common risks such as flood, fire, storms and burst pipes.

It can even cover injuries to individuals in the rented property. It can also cover you if you are in the unfortunate position of your property being maliciously damaged by tenants. It can also help the tenant with costs of temporary accommodation if the property is damaged such as by fire or storm and if a large appliance such as white goods were to need replacing this is also covered meaning less time for your tenants to be without essential appliances.

This is what CIA have to say:

Why do I need landlord insurance?

If you own a property that you rent out to tenants, you should consider getting landlord insurance. It can help protect your investment and provide financial security in case of unexpected events, such as property damage, liability claims, or loss of rental income.

While it’s not legally required to have landlord insurance, many mortgage lenders may require it as a condition of the loan. Additionally, standard homeowners insurance policies typically don’t cover rental properties, so having landlord insurance is often necessary to ensure adequate protection.

Ultimately, whether or not you need landlord insurance depends on your specific circumstances. Here at CIA, we believe that landlord insurance is the best way to safeguard your financial future and protect your property investment.

*Collaborative post with CIA landlord insurance

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