Landlord Insurance - Do you even need it?

So you’re looking to rent out a property, but you’re baffled by insurance. What is landlord’s insurance, and will a typical homeowner’s policy be adequate?

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Tenancy Contract Types

In an ideal world, no landlord would ever have to end a tenancy early. Unfortunately, however, we don’t live in an ideal world, and as a result, ending tenancies early is something that both landlords and tenants have to be prepared for. Given that it happens so often and for so many reasons, there’s a lot of confusion out there when it comes to what the specific precedent needs to be in order to comply with UK law. A single Google search throws up thousands upon thousands of results, meaning that for landlords and tenants both, the topic can be overwhelming at times.

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Your most important legal responsibility as a landlord

As a landlord you have many responsibilities. These include being responsible for paying your taxes from any monies generated by your rental properties on time and correctly. And if you have signed an Assured Shorthold Tenancy agreement, it’s your job to protect the tenant’s deposit by using a Government approved deposit protection scheme. Private landlords or lettings in England are also responsible for checking the immigration status of a prospective tenant under the Right to Rent scheme. Therefore it is a criminal offence if you don’t!

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