Obie’s Post

🏡 As a landlord, it's crucial to stay on top of the rebuild costs for your properties. But how often should you review and adjust these figures? Here's a quick guide: Regular Reviews: Ideally, reassess your property's rebuild costs annually. Market fluctuations and changes in building materials can significantly impact these costs. After Major Changes: If you've made significant renovations or improvements, it's time for a new assessment. These changes can increase the value and, consequently, affect the rebuild cost of your property. Stay Informed: Keep an eye on local (and even national) building costs and trends. A spike in construction costs in your area could mean your property's rebuild value has changed. Professional Assessment: Consider getting a professional assessment from services like https://bit.ly/3C2Xkdt. They offer detailed evaluations to ensure your property is neither underinsured nor overinsured. Consult Your Insurer: Regularly discuss your policy with your insurer to ensure it reflects the current rebuild cost of your property. Staying proactive with these reviews can save you from potential financial pitfalls and ensure your investment is adequately protected. #PropertyManagement #RebuildCosts #LandlordTips #InsuranceInsights

More than 4,300 construction companies went out of business in between November 2022 and October 2023. The Covid pandemic, combined with weaker consumer confidence, inflation and interest rates, has enhanced the pressure on all UK businesses, with the construction industry being no exception. Here, Managing Director Martin Vella discusses the importance of sensible and structured financial management... Read the full article here: https://ow.ly/IIln50R1sgs #LoveConstruction #FinancialStability

Sometimes workload and deadlines just don’t balance. Construction has had a tough 18 months, but the last few weeks things look to be rallying, which has seen a some late evenings in the office. Wherever your political allegiance lies, I’m sure we can all agree that a bit of certainty will at least stabilise market confidence, hopefully combining a possible dip in interest rates and get us moving on some of those stalled schemes. My favourite thing about Advantage Home Construction Insurance and AFIG is that they both have people that understand property development at the helm, meaning that we understand and deliver for our clients when times are difficult and can thrive together in times of market growth! Anyway, here’s a picture of our Birmingham office still working away at 10.30pm to ensure we can support our clients and partners. #propertydevelopment #construction

The Dodge Momentum Index reports an 8.6% 📉 decline in nonresidential construction planning in March, marking a significant shift. Such downturns can influence your #insurance strategies. Concerned about how market shifts might affect your construction projects? Contact me today to ensure you're well-protected.

Wondering if rebuild costs are finally stabilizing? What is the impact on the risk of underinsurance? Liz James MRICS, Surveyor at RebuildCostASSESSMENT.com, shares her expert insights on building inflation and steps to avoid inaccurate property rebuild costs. 🏗️💭 Stay informed! Check out our latest content now. #constructiontrends #insurance #rebuildcost #inflation #property #broker #underinsured #insights

While the worst of construction inflation may be over, it remains a significant factor. It’s no real surprise that the rebuild cost gap has continued to grow. What's particularly concerning is the type of buildings in the UK that were highlighted in our top 10 infographic. There’s still a lot of work to be done to help people insure their buildings for the right amount. Read our latest article on Building costs settling down here; https://lnkd.in/eFYNzPtr #rebuildcost #insurance #building #broker #underinsured #safe #secure

💡 Exploring Service Charges in Leasehold Properties This Week 💡 This week, we're demystifying service charges for leasehold properties, breaking them down into understandable terms. What is a Service Charge? Service charges are stipulations set by the lease, where the freeholder mandates that a managing agent collects a specific percentage from each resident. This fee is crucial for the effective management of shared (communal) spaces within a block or development. 💰 Why Do Service Charges Increase? Several factors contribute to the increase in service charges: Inflation impacts maintenance contractor costs. Wear and tear leads to more frequent repairs and maintenance needs. Buildings insurance premiums rise in line with inflation. 🏢 Want to Understand More? Press play below to dive deeper into how service charges work and how they can impact your finances and the management of the property. ⬇️🏡🇬🇧 #leasehold #leaseholdproperty #homeownership #propertyinvestment #propertyinvestor #realestate #propertyeducation #property #propertymanagement #servicecharge #bbcnews

🏢 **Protect Your Assets with a Rebuild Valuation: Prevent Underinsurance!** 🏗️💼 Are you confident that your property is adequately insured in case of a disaster? 🤔 Getting a rebuild valuation is crucial to prevent underinsurance and ensure that your assets are fully protected. In the event of a fire, flood, or other catastrophic event, having the right insurance coverage is essential to help you recover and rebuild. However, many property owners underestimate the cost of rebuilding, leading to potential gaps in their coverage. By obtaining a professional rebuild valuation, you can accurately assess the true cost of rebuilding your property to its original state. This valuation takes into account factors such as materials, labor costs, and other expenses that may have otherwise been overlooked. Don't let underinsurance leave you vulnerable in times of need. Invest in a thorough rebuild valuation today to safeguard your assets and ensure peace of mind for the future. 🏠💰 #Insurance #RebuildValuation #AssetProtection #UnderinsurancePrevention Contact Guy Penn Community Insurance Brokers or drop me a DM for more details on our preferential rates for desktop and ‘boots on the ground’ site surveys

As construction costs continue to rise, it's not just your home that's affected—insurance costs are affected as well. Considering the current political and economic climate – regionally and globally, construction costs may well continue an upward trend. It is therefore key that insurance coverage is always maintained in line with current construction costs. Learn more about this important issue in our full article, "Hidden Figures: The Rise in Construction Costs and Insurance" via this link: https://buff.ly/43QbBXS #TerraRed #DidYouKnow #ConstructionCosts #HomeInsurance #ClimateChange #RealEstateInsights