27-07-2010
Since 2003, increasing numbers of buy-to-let properties up and down the country have been targeted by gangs of cannabis cultivators looking to house their criminal activities. The subsequent damage to landlords, in both financial and legal terms, can be catastrophic. This is particularly the case for uninsured landlords who may find themselves having to foot the bill for extensive repairs to their properties. Alarmingly according to recent reports, 94% of cannabis farms (also known as factories or grows) have been located in domestic premises.
Landlords who have been the victims of this type of criminal activity have reported damage of the following nature to their properties.
Ceilings and walls knocked through and floorboards ripped out.
Severe water damage.
Fire and explosion.
Furniture destroyed or thrown away.
Wiring ripped out.
Electricity meters bypassed.
Although all properties are at risk, cannabis gangs are more likely to set up 'home' in a house rather than a flat as they require space to cultivate their plants. Additionally, these gangs tend to favour secluded properties in areas where this little through traffic, such as cul-de-sacs.
If you do become a victim of these criminal gangs and your property suffers substantial damage as a result you need to make sure that malicious damage is covered in your policy. Many insurance companies charge extra to cover malicious damage however at TPCM we feel it is imperative that our landlords have this cover as standard and at no extra cost.