Insurance News Archive

Buy-to-let insurance cover: Tenants 'must protect their deposits'

Written by Dan Winters

Tenants are being warned to keep their money safe using deposit protection schemes, those with buy-to-let insurance cover may be interested to discover.

Malcolm Harrison, spokesman for the Tenancy Deposit Scheme, has advised students that their landlords should be part of one of the three registered initiatives.

He highlights the importance of ensuring that those signing a joint tenancy agreement are confident that the other occupiers are reliable.

"[Students] need to actually ask the landlord for details of where the deposit is and the fact that it has been registered. They must also remember that they are going to be jointly responsible," he asserts.

Mr Harrison says not being part of one of the three deposit protection schemes should act as a warning not to let from the buy-to-let insurance cover holder.

Communities and Local Government recently issued proposals that tenants at a buy-to-let insurance cover's property should be able to remain for two months after it is repossessed.

07 Sep 2009