Do you currently live in a property which you are thinking of renting out?
Have you thought how to maximise your money from this property?
Well a lot of landlords are now turning their let properties into homes of multiple occupation, commonly known as HMO’s. HMO’s usually consist of varied tenant types from the working professionals, to students, to DSS tenants, to the homeless. There are not many brokers or insurers who like to take on HMO’s due to the risk type, but at Goldcrest Insurance we have many providers, that are happy to look at all the different risks presented to us.
We have all sorts of risks presented, these can include: converted hotels into HMO’s, converted care homes into HMO’s and converted commercial premises into HMO’s. These risks are normally a decline from your average broker or insurer, but at Goldcrest we have schemes available, as we are a long established broker in this field, that will facilitate you the client with comprehensive cover and great premiums.
Some of the main covers:
- Loss of Rent
- Rental Guarantee
- Buildings Insurance
- Contents insurance
- Legal cover up to £100,000
- Public Liability 5 million
- Employers Liability 10 million
As an HMO landlord you will be expected to have your HMO licence. To make sure you pass the HMO inspection it is best to use HMO Safe who are a fantastic tool used by many landlords in order to get your HMO property up to standard. Once everything is up to scratch and you have your tenants in, running a good HMO property should bring you some good income.
