Are your landlords and tenants prepared for this cold snap?
With winter appearing in full force this week, memories of last year’s record-breaking sub-zero temperatures are resurfacing, and with them the nightmares of burst pipes and other resultant property damage. This damage is bad news for letting agents, landlords and tenants alike, with potentially huge damage bills, miserable living conditions for affected tenants and potentially vacant properties meaning lost rent revenue. It may be into February, but as this week’s weather has shown it’s early yet! Whether you’re a letting agent, a landlord or a tenant, make sure you’re well prepared for what this winter has to throw at us.
According to Total Landlord Insurance, an approved member of The Landlord Syndicate, landlord claims as a result of burst pipes and flooding rise by an average of 100% in winter months versus summer.
Eddie Hooker, CEO of Total Landlord Insurance, said: “During the cold snap just over a year ago, escape of water claims rose by a staggering 900%. While the weather cannot be prevented, precautionary measures can be taken by landlords and tenants to minimise the risk and, should the worst happen, limit the resultant damage.”
The Landlord Syndicate advises landlords to arrange a convenient time with tenants to visit their properties to make checks both internally and externally.
Read the full story at Property Talk Live.