We are the preferred supplier of all sorts of property related services to councils in London. In fact, we are the number one company for guaranteed rent in the city. Plus, we can arrange property management in Islington and countless other areas. No matter what homes you have in your portfolio, we will be able to give you a helping hand.

Insurance is important

A great deal goes in to organising a property. Making certain that your insurance is in order is one of them. For a homeowner, this is crucial. For a landlord, it is one of the most important tasks of all. Insurance protects your building from incurring massive costs if something goes awry. That includes damage by tenants.

Saying this, you could be invalidating your own insurance by making several common mistakes. When a rainy day comes around, they can cost you dearly. From constructing an extension to having the builders in, there are many ways you could be losing out. Let’s have a look at some of these mistakes that you need to avoid.

Extensions

Firstly, there is extending your property. Making a massive change to your house like creating new rooms will likely increase its value. However, it will invalidate your insurance. To stop it from happening, you need to tell your insurance provider of the alterations. Only after can they assess the new value and determine what to do. You may need to get a new policy.

Building work

As for having the builders in, this can be another huge risk. Though appearing harmless, it can cause issues when they are working on a project. For example, there is a chance that tradespeople on site could leave windows and doors open by accident. Such action minimises the security of your building and heightens the chance of burglary. If a theft does happen for this reason, your insurance may be invalid.

So, telling your insurance provider about the building work is a smart idea. They will be able to put special conditions on your policy. If you are interested in the best services for property management Islington has, give us a call.

Doors and locks

Changing doors and their locks is also something you should approach with caution. Insurance providers consider details like home security when they quote rates. For this reason, they will usually want to know about what type of lock you have on external doors. Modifying the locks can change the conditions of your insurance as security levels can shift. So, you need to tell them. Plus, make sure you choose new ones that comply with the highest security standards.

Moving out when work is being done

Some people decide to move out when they are having work done to avoid living in a building site. However, it can have an impact on the insurance. If a property is empty for thirty days or more, it can be classed as unoccupied. As such, your policy would need to change to reflect this.

Conclusion

Making improvements to the house, regardless of their size, is one of the more exciting prospects. Although, it is vital that you guarantee you take all the right precautions. This way, the experience will be less expensive and stressful than it needs to be.

You always need to tell your insurance provider before you organise any improvements. It could be alteration, excavation, or little changes like a new door. This way, they can examine the possible value and risks the work could bring to your building. Failing to tell your provider can invalidate your policy. The repercussions aren’t ones you want to experience. This is especially important. If the worst were to happen, like theft or a fire, your property might not have cover.

Start using our services for property management in Islington

At Finefair Ltd, we supply a long list of property services. This includes the likes of rent guarantee schemes and leasing agreements. There is also estate and block management. Ours is a team that is proactive in its approach. As a result, you can have confidence when you work with us.

So, please let us know if you desire the highest quality services for property management in Islington or want any other help. We do the best for you every time.