Just had a phone call from a customer who owns several flats, Seems two tenents have bypassed the meters for their flats (the new digital type) The DNO have now removed the meters and want £700 each to refit.What do you guys think?
How hefty though? For a flat in a less desirable area £700 may be the equivilent of several months rent. And if they are bypassing the meter whats the betting they've done other damage too.
Fact is tennants can do damage to a property that will WAY exceed the ammount of any reasonable deposit and there isn't a whole lot you can do about it.
I don't think the landlord has much choice but to pay for the reinstatement and consider taking legal action to recover the cost from the tennants.
Landlords can get insurance to cover the cost of unpaid rent or damage to the property.
If a prospective tennant has less than impeccable references, or isn't willing to stump up a large security deposit (which now has to go into a formal escrow scheme - not into the landlords pocket) then the insurance premiums could form part of the monthly rent.
This is what I do for all my properties and the tennants deposit more than covers the excess I'd have to pay.
If the tennant can't or isn't willing to pay the deposit, then they're not the kind of tennant I want to be honest.
Unfortunately the landlord only bought the property at the end of last year with the tennents already in place. I don't know if the bond was transferred at the time.
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