holisticat Posted October 27, 2014 Report Share Posted October 27, 2014 I've agreed to let my property to a professional who intends to take in some (possibly 4) DSS lodgers. My question is, do I tell the insurer I have professional tenant or DSS tenant? Link to comment Share on other sites More sharing options...
Richlist Posted October 27, 2014 Report Share Posted October 27, 2014 Why have you agreed to let your property to some (possibly 4) people in receipt of benefits that you know nothing about & will have no say in who will be selected ? Sounds like a recipe for disaster. Link to comment Share on other sites More sharing options...
Mortitia Posted October 27, 2014 Report Share Posted October 27, 2014 You must be barking. No insurer would accept that at any sensible premium. DSS tenants are often refused by insurers so doing it this way is suicide. What makes the 'professional' so enticing? Sounds like a scam to me. Link to comment Share on other sites More sharing options...
Melboy Posted October 28, 2014 Report Share Posted October 28, 2014 You must be stark raving bonker's if you go ahead with what you have just outlined in your question to the forum. Never the less do come back to the forum and let us all know how it went so badly wrong for you. Oh! and to answer your question. Yes, tell your insurance company whatever you plan to do as because if you do have a problem like fire, flood, damage or a Cannibis factory from your tenant's then they will not pay you a penny in compensation. Link to comment Share on other sites More sharing options...
holisticat Posted October 28, 2014 Author Report Share Posted October 28, 2014 Is it very obvious that this was going to be my first letting? I'm not experienced or knowledgeable in this sector. I've decided not to go ahead with the agreement. Thank you for all your replies. Link to comment Share on other sites More sharing options...
Chestnut Posted October 28, 2014 Report Share Posted October 28, 2014 That's a wise decision. My answer to original question would be - Yes, you do need to tell insurer. Insurers need to know that your professional tenant would be sub-letting, running a business (letting) etc. Check your building insurance conditions carefully - the answer was probably in there somewhere. Link to comment Share on other sites More sharing options...
holisticat Posted October 28, 2014 Author Report Share Posted October 28, 2014 Thank you Chestnut. Link to comment Share on other sites More sharing options...
Melboy Posted October 29, 2014 Report Share Posted October 29, 2014 Is it very obvious that this was going to be my first letting? I'm not experienced or knowledgeable in this sector. I've decided not to go ahead with the agreement. Thank you for all your replies. This will be probably the best decision you will ever make as a novice landlord. You can and will gain knowledge and experience especially referring to landlord/letting/tenant matters you may have on a forum such as this. In the meantime my advice to you is to purchase a quality book on being a landlord and read up on the very basics of what you are entering into. Everyone has to start somewhere but better to start with knowledge then up to your neck in a World of brown stuff ! Link to comment Share on other sites More sharing options...
holisticat Posted October 29, 2014 Author Report Share Posted October 29, 2014 Thank you Melboy, you're absolutely right, I should do some home work. Any suggestions on books? Link to comment Share on other sites More sharing options...
Melboy Posted October 29, 2014 Report Share Posted October 29, 2014 Thank you Melboy, you're absolutely right, I should do some home work. Any suggestions on books? There are a lot of good books around in the book shops and online. This is a good start for you to learn the basics I would say and inexpensive. http://www.ebay.co.uk/itm/Landlord-and-Tenant-Law-McQueen-John-New-Book-/311136300391?pt=Non_Fiction&hash=item48712b2d67 Link to comment Share on other sites More sharing options...
Mortitia Posted October 30, 2014 Report Share Posted October 30, 2014 Holisticat - I also suggest you go on the forums at www.landlordzone.co.uk and read the main post by Welshboy (search the members list) who was conned into letting 'a professional' let his property to several others and he never saw a penny. In fact he had to evict these people to get his own property back. Link to comment Share on other sites More sharing options...
holisticat Posted October 30, 2014 Author Report Share Posted October 30, 2014 Melboy, Mortitia: Thank you for all the tips. I will definitely be visiting these forums often and I already ordered the book. You will probably see a lot of questions from me, mostly dumb ones for the time being Link to comment Share on other sites More sharing options...
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