Do I need Loss of Rent Cover?
Loss of Rent cover is essential
Can you afford not to have cover?
A property owner of a Commercial unit being used by an engineering firm made a claim in 2005 on his loss of rent extension. His rent on the unit was £1,250.00 a month – the property had a fire and was 90% destroyed. The property owners insurance covered the re-build of the property but it took over 12 months for site clearance, design, authorisation and re-build. This resulted in a loss of rent claim alone over 12 months of £15,000. If the client had not had any loss of rent cover he would have been £15,000 out of pocket!
Furniture and Furnishing (Fire) (Safety) Regulations 1988
This guide is a summary only. For a more detailed view of the act please visit the DTI Website.
The Government have introduced a number of pieces of legislation to control the level of fire resistance in domestic furniture and furnishings. The most important area for Landlords and their agents is the Furniture and Furnishings (Fire) (Safety) Regulations 1988, under section 11 of the Consumer Protection Act 1987.
These regulations cover all those associated with furniture and furnishings, from importing and manufacture to retailing and hiring. Hire includes the situation where furniture and furnishing are let as part of a residential letting.
Products covered by the Regulations: Furniture (including children’s)
- Beds, headboards and mattresses
- Sofa beds and futons
- Nursery furniture
- Garden furniture which could be used internally
- Cushions
- Seat pads
- Pillows
- Loose and stretch covers for furniture
Products not covered:
- Sleeping bags
- Bedclothes and duvets
- Loose covers for mattresses
- Pillowcases
- Curtains
- Carpets
The only exemption likely to be relevant to Landlords/Agents is that the Regulations do not apply to furniture made before 1950 and the re-upholstery of furniture made before that date.
Two dates are particularly relevant:
From 1 March 1993 All furniture (new and second hand) as defined above must meet all the Fire Resistance Requirements in accommodation let for the first time All replacement or additional furniture (new and second hand) must meet all the Fire Resistance Requirements.
From 1 January 1997 ALL furniture must meet the requirements ie existing furniture in new and current lettings. Which furniture meets the Fire Resistance Requirements?
Display labels should be attached to all furniture meeting the requirements stating ‘the product meets the necessary requirements of the 1988 Safety Regulations’.
