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 accomodation for the average student has increased enmoously. The standard of the property and espically 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 effect to the insurers is that the student sector has become more appealing and has seen a shift in underwriting philosophy that is closer assocaited with properties tenanted by professionals.

Most of the UK leading online landlords insurance providers, now applies the same rates, policy terms and conditions to students as it would professional lets. Whilst other providers are slow to follow their lead it is thought within the next 12 months insurers will also consider student let properties as good attraactive business.

Many landlords are letting their propeties fully furnished and use the facility provided by companies such as “The Think Tank Group”. The Think Tank Group provide a furniture package from as little as £2295 including VAT, delivery and installation. The package extends to include items in the kitchen, bathroom, lounge and bedroom. Such items as mirocwaves, kettles, toasters, bath mats, toliet 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. Such companies as Inside Track who sell appartments in the UK, Portugal and Spain promote different standards of furniture packs to its database. The take up rate for furniture packages is far higher for overseas properties than UK based locations.

Other organisations with the buy to let industry include property management companies. There principal activity is buying houses and flats and renting them out to young professionals and students. They extend there 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 manufacturerers, mortgage providers and tradesman such as locksmiths and property security services.

In respect of the insurance products assocaited with the buy to let market things extend to include; builings and contents insurance, legal expenses and emergency assistance cover, tenant referencing, rent arrears cover, landlords contents & tenants contents insurance.