Editor's note: This brief was summarised by The Property AI Team from a report by PropertyWire. Read the original article for full details.
Illegal cannabis farms drive £9.4m in property claims
Landlords face substantial financial losses from illegal cannabis cultivation, with insurers reporting £9.4 million in claims since January 2022, according to PropertyWire.
Fire and rescue service callouts to suspected cannabis farms rose 218% between 2015 and 2024, the report states.
What this means for letting agents and inventory clerks
The figures underline the importance of thorough property inspections and accurate inventory records, which can help identify signs of unauthorised use of a rental property. Agents and clerks may wish to factor the risk of illegal cultivation into their inspection routines, though the source report does not provide specific guidance on detection.
Source: PropertyWire