Tender: Leaseholder Buildings Insurance for Right to Buy and Shared Ownership Properties – Reading Borough Council

About

Reading Borough Council is seeking a supplier for a Third-Party Property Insurance Policy for leasehold residential properties where the Council retains the freehold, primarily those sold under the Right to Buy scheme. The requirement covers 229 leasehold RTB properties, 13 shared ownership houses, 1 mortgaged property at St Elizabeth Close and 16 detached garages leased to RTB leaseholders, with a portfolio made up predominantly of flats within blocks and maisonettes. Many leases require the Council, as freeholder, to arrange buildings insurance and recover the premium through the service charge; properties remaining in Council housing stock are excluded from this procurement. A detailed property schedule including construction type, age, number of storeys and tenancy/subletting details is provided. The contract will provide appropriate third-party property insurance to mitigate the Council's financial exposure, ensure compliance with lease obligations and landlord responsibilities, provide a consistent arrangement for affected leaseholders and support effective risk management across the housing portfolio. As this is a Qualifying Long-Term Agreement, the Council will consult affected leaseholders under Section 20 of the Landlord and Tenant Act 1985 prior to entering the agreement.