As a landlord the assumption is people who rent your property will treat it with the same love and care as you would your own home. However this isn’t always the case with some tenants.Getting insurance is a must for any landlord but are you aware of the difference between wear and tear, and malicious or accidental damage? Insurance doesn’t cover you for the former, just as it wouldn’t for poor housekeeping, despite the upset when homes are left in a substandard condition.
Accidental Damage
Accidental Damage is often unexpected or a sudden loss through the fault of those involved. It is usually something that is unintentional such as, damage to furniture, children writing on walls, spills on carpets etc. it was accidental, but the damage was still caused.
Malicious Damage
As opposed to the above, malicious damage is usually motivated by malice, spite or vindictiveness with the intention to cause harm. This includes situations such as punched/kicked in walls and doors and graffiti. The intention is to wreck the property further than surface level, such as normal spills.
Deliberate Damage
Deliberate damage differs from malicious damage, as it is an act caused but not intended to be out of spite, vindictiveness or malice. If tenants put up a picture without permission, they are causing damage to walls with the intention of making it homely as opposed to destroying it.
Wear and Tear
It is natural for wear and tear to occur in all properties, and the same applies to rentals. Wear and tear are not covered by insurers. This includes scuff marks on walls, carpets in walkways appearing worn, usually in hallways and living rooms. Insurance is designed to protect against unforeseen losses, and daily wear and tear of a property are not one of them.
Whilst it can be distressing having a tenant who leaves the property to lower standards than you would keep, insurance does not cover you unless it is accidental or malicious damage.
It is expected that wear and tear will occur, so keep an eye on the amount of damage caused, or if you have an agent looking after your properties, advise for inspections periodically.
It gives you an idea of the state of the property as opposed to the shock of it once tenants leave.
If you wish to know more or have a property you would like to discuss regarding your insurance give our expert team a call on 0121 679 7265.