Get 6 months rent upfront, every 6 months
Being a landlord can be challenging. You want to find tenants who will pay rent on time and take care of the property, but this isn’t always an easy feat. Even once you’ve found great prospective tenants, you still need to complete paperwork and vet them for things like credit score and past rental history
As with any risk management strategy, taking rent in advance can be a great way to guarantee your income however not all tenants will agree to pay a large chunk of their rent upfront. Not only this but there are strict rules around how this money must be handled.
Advanced Rents, Rent In advance service is designed to provide you with a lump sum upfront without the regulatory burden that comes with taking rent upfront from your tenants.
With Rent In Advance you can:
Increase your portfolio
Rent in advance provides you with a large amount of cash upfront allowing you to fund the expansion of your property portfolio
Go on a long overdue holiday
Stop waiitng for your rent to be received from your tenants. Our service pays you a lump upfront allowing you to go on an overdue holiday
Take a step back from manaing your portfolio.
The freedom from chasing rent and the associated administrative burden give you more time to do whats important to you.
How does it work?
Rent In advance is a premium managed service that pays you the first six months of your rent, minus a small fee on the first day of the tenancy. We then collect the rent from the tenant each month.
If your tenant stops paying rent, our expert team are on hand to manage the arrears and will attempt to get the tenant back on track. If that fails, we also manage the eviction case for you – all while paying you the rent on time.
With Rent In Advance, you’ll also enjoy all the benefits of Rent Guarantee Insurance, offering additional peace of mind.
Who is the insurer of your Tenant Contents InsuranceOur Tenants Contents cover is underwritten by a panel of cherry picked insurers consisting of Axa, LV, RSA and UK General.
Who should i contact in the event of a claim?In the event of a claim, you should contact your underwriter which will be detailed on your certificate of insurance.
Can i transfer my No Claims Discount (NCD) from another policy?Yes. If there is more than one person named on the policy with two different NCD, the higher can be used I'm sharing the property but the only one named on the tenancy agreement.
Are we all covered by this policy?The policy covers you, your partner and any other person permanently living with you under their tenancy agreement (including any children or foster children). The policy does not cover lodgers or other tenants not covered under your tenancy agreement.
What is the cooling off period for this cover?There's a 14 day cooling off period from the start of the policy. In the event of cancellation after the cooling off period, a pro rata refund will be given if no claim has been made.
What is the most i can claim for one item?The most you can claim for any one valuable is £2,500 unless the item is specified on the policy.
I work from home, is my business equipment covered?"Business equipment is covered up to the sum insured for clerical work only. Business equipment is defined as computer equipment, printers, photocopiers, computer aided design equipment, office furniture and furnishings and telecommunications equipment used in any way for business purposes. This does not include any property held as stock.