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View Full Version : who is liable for property insurance?



nask70
03-10-2006, 12:52 PM
is it the landlord or tenant?

mickey
03-10-2006, 13:02 PM
LL responsible for buildings plus contents to cover any of their stuff and tenant for contents of their stuff, I think

welshgold
03-10-2006, 13:07 PM
is it the landlord or tenant?

if you as landlord own the property, i would think its obvious that you need to insure it , not only against fire but also public liability, why would your tenant want to pay the insurance, if it burns down they can move to a different property.

nask70
03-10-2006, 13:20 PM
but i was thinking in the lines off if i had contents then why not make a slight rent increase to cover the insurance cost. good idea

welshgold
03-10-2006, 16:18 PM
but i was thinking in the lines off if i had contents then why not make a slight rent increase to cover the insurance cost. good idea

well this is a different question, you could do this, but how would you know the value of your tenants goods.why would you want to get involved.

Poppy
03-10-2006, 16:54 PM
I see from your previous posts that you have many issues which are indicative of someone new to the industry. I do not think it is helpful to you to learn about the property industry by asking a series of disjointed questions. Have you considered buying any books (both commercial and residential I suppose in your case)?

To give you an answer to this question you need to factor into the rent: use of a property, mortgage, insurance, maintenance, furnishings, gas safety check, agents' fees at the very least and somewhere at the end a bit of profit if things go well. If you get a bad set of tenants add unpaid rent, damage, legal fees, balding hair.