Tenants’ confessions ‘show need for landlord cover’

Tenants’ confessions ‘show need for landlord cover’

According to research from Lloyds Bank Business Insurance Services, 25% of tenants have damaged their landlord’s property accidentally, while 25% have caused blockages to sinks and toilets.

Meanwhile, 12% say they’ve failed to pay rent or bills, and a further 12% say they have smoked at their rented property, increasing the risk of fire and smoke damage.

Other things which landlords need to be aware of include tenants causing noise disturbance (10%), damage caused by pets (9%) and leaving the property unsecured and therefore at risk of burglary (6%). 5% say that their rental property has, in fact, been burgled while they’ve been living there.

The top five tenants’ confessions were:

  1. Accidentally damaged the property    25%
  2. Blocked the sink/toilet                         25%
  3. Smoked inside the property                12%
  4. Defaulted on rent/bills                         12%
  5. Caused noise disturbance                  10%

The research also highlights the lengths tenants have gone to in order to hide their domestic mishaps and avoid losing their deposit money. 31% have cleaned the carpets themselves, 29% have repainted the walls, and 5% have hired a professional cleaner to blitz the property from top to bottom.

Damien McGarrigle, head of business insurance for Lloyds Banking Group, said: “The results highlight just how important it is for private landlords to have adequate landlord insurance which will protect them from a range of common problems, from break-ins and accidental damage to loss of rental income and plumbing issues.

“We know many small scale private landlords with just one or two properties rely on regular home insurance to protect them, but this often falls short of covering the specific problems they could face.”