COVID testing is well under way at universities to allow students to begin the process of going home for the Christmas holidays.
There have also been calls for universities to stagger the return of students across five weeks and to offer virtual learning, where possible, in order to protect students, staff and local communities from the spread of coronavirus.
It all adds up to further uncertainty for landlords who have already been operating under new legislation for the private rented sector in this time of coronavirus.
Despite hopes that the much-awaited vaccines will begin to roll out, the virus continues its grip on society.
Landlords are also being told not to start proceedings against tenants who fall into financial difficulties. The government has made it clear they are expected to demonstrate flexibility in dealing with tenants whose income has been fluctuating as a result of the virus.
At the least it looks as though a large number of properties will remain unoccupied for an extended period over Christmas and well into January. Vacant properties can be at risk of vandalism, burglary and accidental damage.
It is important that you understand what the definition of an “unoccupied property” is within your policy as some wordings vary i.e. 30 days, 45 days etc. Depending on this your cover may be reduced during this period.
Against this background now is a good time for landlords to revisit their insurance policies to ensure they are receiving the level of cover they need and how their policy would respond in the event of a claim whilst the property is unoccupied.
Whether you own one property or an entire portfolio, effective landlord insurance is an absolute must.
The best insurance brokers can tailor your policy to suit your needs which can go a long way to taking the stress out of being a landlord in the current climate. In addition, if the worst happens your broker can guide you through the process of making a claim.
Packages can be tailor-made to tackle the specific problems you face while ensuring you only pay for the cover you need which may include: buildings cover, equipment breakdown, landlords contents, including those contained within communal areas and cover for loss of rent following an insured event.
:: Donna Vaughan is commercial account manager at AbbeyAutoline (www.abbeyautoline.co.uk)
