Change of tenant types
During the course of the ownership of your rented properties, it is more than likely that you will have a change of tenant type. This happens when a previously employed tenant becomes unemployed or a student or when a lease is renewed with a different tenant with different circumstances.
Some insurance policies do cover a variety of tenant types however many do not. Renting a property to a tenant that does not fit your current policy schedule could render your insurance invalid.
Remember to check the following
- When renting check the tenants current circumstances
- Place in your tenancy agreements a clause that ensures the tenant informs you of any change of circumstance
- Check your current let property insurance prior signing any contracts
- Be aware of any cost implications caused due to a change of tenant type
- Call your insurance company immediately after a change of tenant type

