Insurance of Bedsits and HMOs - Homes of multiple occupation
Landlord insurance for bedsits and HMOs can be substantially
more expensive than single tenants.
Although not needed for insurance, you may need to have a
property licence. You may be aware that a property licence is required for landlords owning properties
where more than two householders live together. You can read about the property
licence laws online.
The legislation brought into effect by the government from April 6th 2006
meant that any landlord which lets a property which is considered a house in multiple occupation now
needs to have a property licence under certain circumstances. A household is generally considered as
members of the same family which live together or married couples. A house of multiple occupations
is generally any property which houses three or more 'households' which share facilities such as the
kitchen, toilet or bathroom.
There are different types of bedsits,
depending on the type of tenant therein and landlord insurance companies look at
them in different ways.
Professional bedsits are
houses occupied by multiple people but they all have tenancy
agreements with the landlord. These are the easiest and cheapest
to insure, but will be at a premium.
Students: We have several
landlord schemes specifically targeted at property occupied by
DSS: These are the most
expensive type of property for landlords to insure, individuals
and families are housed by Social Services and the landlord has
little, if any, control over the type or nature of the tenants
or their period of occupancy.
and Buy Online - immediate cover. (up to 7 asylum seeker individuals/ families)
Multi Property Landlord Insurance
For landlords owning over four properties we offer our
Multi Property landlord insurance contract with reduced rates, fees and easy administration.
Insurance is one of many of our products. Above all we aim to help
our customers in all aspects of insurance.