I have carried out research after showing interest in a property that I really like after being told, that before I can view the property the property consultant needs to speak to the landlord concerning his insurance. I have found out some standard landlord insurance policies may not include DSS tenants, whereas others will raise their premiums for this tenant type. This I did not know until now.
Would it be inappropriate to offer on top of the rent to pay for the increase in premium for the right level of protection?
Thank you for this post, Donna. I hope other DSS tenants will read and understand better why it’s harder for them to find a rental property. I think you could try. It’s not inappropriate and is a nice touch.
Some professional TT offer higher than asking rent to have an edge over other TT. You could do a similar thing, just to stand out from the crowd.
@Donna28 be aware that there are policies out there which do not raise premiums automatically for tenants on benefits. The key thing is often whether the rent is paid directly to the LL or agent instead or to the tenant who then pays it on to the LL. If it is the former, the premium is higher because it is assumed that the tenant is higher risk, hence the need for the LA to pay the LL directly. If you want to keep the premium lower, then pay the LL directly.
Not all LLs have that insurance, basically the insurance is useful for LLs who have a loan on the property and need the rent to cover the loan, and the insurance covers them if the rent stops getting paid. However, for LLs who own the property outright with no mortgage then they see it differently, its more like you have some money in the bank on deposit earning interest and if you have a month or two with no rent it is like interest rates fell, but it is not a disaster, you don’t have a loan you need to use the rent to repay. So one thing you could do is understand if the LL owns the property outright, which you can find out by checking the Land Registry which shows all outstanding mortgages. You should always do this anyway to make sure the LL is who they say they are!
Thank you Tatemono for your info I appreciate you taking the time to share your knowledge. All this is new to me, and will be beneficial in finding the right property and build a solid trustworthy relationship with a landlord.
Thank you Graham for taking the time to answer and share your knowledge with me. As I have mentioned before this is all new to me and will be beneficial when looking for a new home and building a solid trustworthy relationship with a landlord. Thank you.
I find it hard to understand why the Government doesn’t step in when a tenant who is given money from the tax payer towards their rent decides to cancel the debit and keep the rent, it is theft after all.
Bonkers Britain we are becoming.
I don’t mind admitting that I run a mile when people mention anything to do with DSS, housing benefit or similar.
Its not my fault the system is at fault
Wow ….Susan your comment, be careful of DSS tenants. You are purely voicing your own opinion and that is only what you can base it on, due to the upset you are experiencing.
Any tenant, regardless of whether or not they receive DSS, has the potential to be disruptive and cost you a lot of time, effort, energy and money. There really are no guarantees as it ultimately comes down to an individuals character.
The fact that people receive DSS does not mean that they all share the same character traits. The same applies for people not receiving DSS. Not all of those people are trustworthy, organised, reliable or kind, regardless of how they earn their money. Every case is individual.
My advice to you would be that you aren’t actually protecting yourself as much as you think you are, as you are always going to be vulnerable to your tenant’s personal character, regardless of how they receive their income.
I have always worked from the age of sixteen up until fifty, and even now I volunteer still for MacMillan. I am on Universal Credit due to a brain tumour which has caused epilepsy. I don’t usually broad cast this but your comment was so arrogant. Like I said above it’s about the character of the individual not being on a benefit.
Fewer than one in ten (7%) of private renters were either currently in arrears (3%) or had been in arrears in the last year (4%).
Private renters in receipt of housing support were more likely than those not receiving housing support to be currently in arrears (5% vs 2%) and to have been in arrears in the past year (9% vs 3%).
Private renters in the bottom income quintile were more likely to currently be in arrears (5%) or to have been in arrears in the last year (8%) compared to those on the highest income quintile (1% had been in arrears in the last year).
Private renters with at least one dependent child were more likely to have been in arrears in the last year (8%) than those without any dependent children (3%).
Not everyone on benefits is like this. This is plain stereotyping. I’d rather be a benefits claimant than a landlord, people like you make me nauseated_face:
Want to know whose ruined the country by making housing a speculative asset rather than a right to be enjoyed by all… you lot.
Donna, I’m disabled myself, and I’m so sorry that it happened to you. It’s a real tradegy and is not your fault. No LL would think otherwise.
I believe another poster is talking about work-shy but otherwise perfectly healthy people, who won’t think twice about taking rent money for themselves and living rent-free for as long as they can. That means until bailiffs come. Of, and not taking care of the place.
Maybe, you should make an appointment with your MP and suggest they could ask during Parlament Q&A session why current government has scrapped the target for building new affordable accommodation? And while you’re at it, ask why hardly any council housing has been built for 40(?) years?
Also, why economic migrants are in front of the queue for housing before British people?
Here’s an idea… we take your 2nd, 3rd, 4th, 5th home into public ownership without compensation & house everyone, including migrants/ refugees and you can keep your favourite one?
I’m not a mug mate you’re not going to get me to rattle on about migrants as though they’re the enemy… the rich are the problem. ‘‘Right-to-Buy’’ was a ponzie scheme that has given you far to much power, and council housing hasn’t been built (which the tories knew would happen) because if they were you lot wouldn’t enjoy though wonderful gains from treating housing as a speculative asset.
We then tax you to boiling point, knock Donna off her high horse (woe is her) & provide all services expected in a first world country (though i’m fully aware you people don’t care about the standard of living of normal Brits… even if you wave flags) AND have enough money to give nurses & so forth fair wages.
Lets not pretend MPs care about normal people Tim.
well buy a house yourself then and make the sacrifices we make to give people a decent home. Save up from young , work and save and earn it is not too difficult
You provide absolutely no value to the economy, hoarding houses, gouging prices during crises is not a job. You have to be living under a rock to think it’s ‘‘not too difficult’’, and you clearly do not actually believe that - or have missed the price of your property portfolio skyrocketing since the 80s.
Given you know so much about the market, what happens when stock decreases & demand increases… price goes up.
What happens when this occurs in tandem with austerity & stagnant wages… Housing crises.
It’s not rocket science & migrants or ‘lazy’ millennials aren’t to blame. There are people who work multiple jobs and can’t afford rent.
You have no idea how much income tax I pay . How much VAT or Council tax or the fact that working three jobs has made me a good living . I am a joiner I will send you a chip for your shoulder to balance up the huge one you are carrying. I am not hoarding houses ,I have given two away to my children . You sound like a jealous , envious individual. It is easy, do not drink, smoke etc , live modest and save , work for 50 years , no problem . Try it