New Report May Benefit Landlord Insurance

The RICS is launching a new type of property report that may help Landlords understand their insurance needs on their properties.

The RICS Condition Report is part of the RICS Homes Surveys. It is designed to give buyers of properties an easy to understand breakdown of the condition and hence, insurance needs of the property.  It follows the RICS's easy to see 'traffic light' scoring system.

It will benefit buying by giving landlords additional information to the standard lender's mortgage valuation. 

The report will also help landlords wanting to assess the condition of their investments, thus allowing them a better understanding of the landlord insurance needs.

David Dalby, RICS housing spokesperson said: "The RICS Condition Report is a new approach to surveys, ensuring that no matter what type of property a client is buying, there is a suitable survey available."

"It's also good news for the industry. If you're not a registered valuer it gives you the opportunity to provide home reports to a significant sector of the property market, while registered valuers are now able to offer a number of survey options to homebuyers."