Cannabis infographic helps landlords spot warning signs

Landlords’ insurance specialists Cover4LetProperty have launched an infographic to help landlords spot the warning signs of cannabis being grown at one of their rental properties.

The cultivation of cannabis is a major concern, as these facts highlight:

• landlords have a one in 165 chance of their let property being turned in to a cannabis farm;
• these farms are estimated to cost UK landlords around £200million;
• during 2011-2012, there was a 15% increase in the number of new farms being created;
• in 2013, Greater Manchester Police seized 51,000 cannabis plants - the equivalent of nearly 1,000 cannabis plants each week.

Richard Burgess, Director at Cover4LetProperty, explains: “The infographic highlights what landlords need to look out for before accepting new tenants, as well as once the tenants are in – so, spotting the signs of a cannabis farm at their property or being wary of tenants who appear to be "ideal” – e.g. those who pay several months’ rent upfront, and all in cash.

“It also discusses the insurance implications for landlords, both in terms of their obligation to make regular checks on the property (including the sheds) and in terms of what may and may not be covered under their landlords insurance”.

Mr. Burgess adds that many landlords assume that the damage caused to their property by it being turned in to a cannabis farm is covered by their insurance, especially so if they have the ‘malicious damage by tenant’ element of protection.

“Not all insurers, however, do provide malicious damage by tenant cover as part of a landlord insurance policy. And while some will consider a cultivation of cannabis claim under the malicious damage by tenant section, typically there will be limits, generally up to £5,000. This means that any repairs can still end up costing a landlord thousands of pounds, even if their claim is successful.

“If you are a landlord, this infographic may help you spot the warning signs that something illegal is going on at your property”.

The infographic can be viewed and downloaded here: http://www.cover4letproperty.co.uk/about-us/cannabis-farms-infographic/. Website owners wishing to use the infographic can also visit the page and get the embed code to display it on their website or blog.

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Contact:

Richard Burgess, MCIM, ACIEH, Director at Cover4LetProperty, telephone: 0845 863 9558 or email: richardb@alanblunden.co.uk

About Cover4LetProperty:

With roots going back to 1946, our clients can benefit from 68 years’ of experience in the landlord insurance marketplace. We are award-winning independent intermediaries and act on behalf of our clients in arranging their buy to let and unoccupied property insurances. Our service includes advising clients on their insurance needs, arranging insurance cover with insurers to meet those requirements and help with any ongoing changes that have to be made to their landlords insurance policies.

In 2011 we were proud to beat off some stiff competition for the award for Best Landlord Insurer in the prestigious The Money Awards.

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