BTLWhizz Posted July 21, 2007 Report Share Posted July 21, 2007 I'm sure everyone has heard the news about mass flooding. I have no properties that have flooded or are in areas likely to flood. However what happens when you're renting a property and it floods. Is the tenant just out of luck, or do you the landlord have to provide them with alternative accomodation, at your (the landlord's) expense? Link to comment Share on other sites More sharing options...
GPEL Posted July 21, 2007 Report Share Posted July 21, 2007 Depends on whether your property is still habitable or not and how good your insurance property is. In general terms you are responsible for the cost of re-housing them but not for any damage to their contents unless you were negligent in some way. A good landlords buildings insurance policy would pay you for both re-homing costs and loss of rent. Link to comment Share on other sites More sharing options...
BTLWhizz Posted July 22, 2007 Author Report Share Posted July 22, 2007 Depends on whether your property is still habitable or not and how good your insurance property is. In general terms you are responsible for the cost of re-housing them but not for any damage to their contents unless you were negligent in some way. A good landlords buildings insurance policy would pay you for both re-homing costs and loss of rent. Call me cynical, but I think that even though I have a "good" insurance policy from a large company, that they'll try to avoid paying out if they can. And in the best case, I'll have to pay up-front costs why they drag their feet about paying out. Anyone ever had to claim? Link to comment Share on other sites More sharing options...
Melboy Posted July 22, 2007 Report Share Posted July 22, 2007 Comes under the general insurance title of "Act of God" A wise Landlord will have his/her own insurance to cover the damage caused by flooding to cover contents and buildings which they own. The Tenant is responsible for his own insurance for "goods and chattels". You are not responsible for rehousing or paying any rehousing costs to the Tenant. Link to comment Share on other sites More sharing options...
Simon Dewsberry Posted July 22, 2007 Report Share Posted July 22, 2007 This is going to be a very real problem for many .. Once the damage has all been put right (at some ridiculous cost) the next problem will be the insurance premiums - if owners can find a co willing to quote .... Several years ago we had bad flooding in the center of Cardiff which flooded lots of homes - those people had an absolute nightmare getting ins until flood defences were built to protect homes from flash floods from the river TAFF.. I know this next bit isn't going to help the poor souls with the floods but as LL and business people we need to avoid "most" properties when we are investing Buying on a flood plain a cliff in East Anglia The vast majority of "off plan" luxury appartments and a whole lot of other scenarios should not be in your portfolio Or you will find you are "sailing in unchartered waters.".............Literally!! Simon Link to comment Share on other sites More sharing options...
GPEL Posted July 22, 2007 Report Share Posted July 22, 2007 In response to BTL Whiz, yes, I've had to initiate a claim for flooding of a tenanted property and, yes, the owner would have been responsible for finding alternate housing. Fortunately, the tenant was persuaded to stay in the property while the insurance company's flood restoration company had the dryers on 24 hours a day. The tenant was patient but could legitimately have claimed compensation but good communications helped prevent an escalation of the problem. Link to comment Share on other sites More sharing options...
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