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Rebuild Cost Assessments - iInsure365

We find on many occasions that landlords as well as the Right to Manage landlords/lessees/Right to Manage companies. Often have a sum insured that is either more than required or less. Both can cause a large number of problems such as paying too much for your insurance and/or being underinsured which can cause an issue in the event of an insurance claim. Insurers will only pay out claims in full if the building is insured for the full reinstatement value. iInsure365 has teamed up with RebuildCostAssessment.com. So that our clients can organize a very cheap way of checking that their properties are correctly insured. The company will carry out a desktop valuation for you. Taking into account all of the necessary requirements of the Royal Institute of Chartered Surveyors commonly known as RICS.   How long will an assessment take? The assessment will take between three to six working days from the acknowledgment of the order. This is for a guide only and some assessments may be co
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What is Enfranchisement?

It is the right, subject to qualification, for owners of flats in a block to buy their freehold. People often apply for enfranchisement to try and reduce their costs and take control of what they spend on the building long term. The relevant Act is the Leasehold Reform Housing and Development Act 1993 (as amended). What has to happen to consider enfranchisement? 50% of the leaseholders have to meet the qualification criteria before considering going ahead . Once this is the case the qualifying tenants can  participate .  Unfortunately, the procedure is quite complex and it is vital to serving the correct notice on the landlord .  So it is always advisable to use a specialist solicitor and surveyor when undertaking this process . Checking Eligibility The first action must be to check that the building qualifies and that there are enough qualifying tenants to be able to proceed . You need to check as follows:- a) The flat contains at least two flats. b) Qua
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Winter Property Management Tips

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Don’t let winter conditions force you to make a claim! We have listed some tips on winter property management to ensure that your property  is looked  after by your tenants. Therefore ensuring that there are no unnecessary claims resulting in increased premiums:-   1) Make sure that the pipes and roof have insulation and the loft storage tank, if there is any, has insulation foam ensuring that they don’t freeze . 2) Ask your tenants to make sure that they are heating and maintaining the property  correctly , even when they are not there . Tenants often don’t  necessarily  turn the heating on sometimes because of the cost. They do though need to ensure that it is  properly  heated so there are no problems with the pipes freezing. 3) Make sure that your stopcock is working and that your tenants know where it is. 4) Do you have a condensing boiler? If so, make sure to lag the outlet pipe to ensure that it doesn’t freeze during the winter. If they
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Thinking about Short Term Letting?

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There has been a lot of news and discussions about short term lets recently. The housing charity,  Shelter , recently conducted some research on short term living. Their  research  found that 12% of parents who rent privately feel as though short term lets may leave their children feeling unsettled. Short term let is the name given to a tenancy agreement of less than six months. Any tenancy agreement less than six months is not governed by the Landlord & Tenant Act 1985 so there is no form of protection for a landlord and/or a tenant. Short term lets are rare as they are only suitable for very specific situations. Who uses short term lets? Short term lets are rare as they are only suitable for very specific situations. Someone might be living away from home for a few months due to work commitments. Or they may be waiting for a new house to be built for them to move in to. Recently there has been a rise in demand for letting on a short term basis. This is mainly throug
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Commercial Buildings Insurance for Landlords

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We provide herewith a summary of questions relative to commercial insurance, this is not an exhaustive list. Will my landlord insurance cover my commercial property? Absolutely not ! You will need an commercial landlord insurance policy made  specifically  for  commercial buildings . Insurers treat commercial properties  differently  to  residential buildings.   An important factor in the premium calculation is the type of business occupying the premises .  For instance, an office block occupied by clerical workers may be a very low risk for an insurance company . Whereas a takeaway restaurant with a deep fat fryer could be a very high risk. It all depends on what the occupier does, and at what time of the day and week. There are some categories which may be a  surprisingly  high risk to insurers.  Trades such as DIY stores, electrical goods stores, furniture and carpet shops and dry cleaners/launderettes . What type of cover will I have? You will have insurance cove
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