Rent Guarantee Insurance For Letting Agents
Enhance your management service
Even the best of tenants can experience sudden changes in their financial circumstances, which could impact their ability to pay your landlords their rent. Although referencing provides an insight into a tenants current situation, it cannot predict the future. A lost job, relationship breakdown or other changes in personal circumstances of your tenant can ultimately affect their ability to pay your landlords their rent. In the unfortunate situation that this arises, this could put a serious strain on your relationship with that landlord.
Why Choose Rent Guarantee Insurance?
Rent Guarantee Insurance is a legal expenses policy to cover your landlords for non-payment of rent and subsequent eviction costs if a tenant stopped paying during the tenancy. In the event of claim, the insurer will fund the rent for up to 12 months while they manage the full eviction process, from issuing notice to obtaining legal vacant possession. Each policy lasts for 12 months at a time with the option to carry one month or no excess.
Cover can be offered to your landlords as an additional upgrade to your managed service giving your landlords the option to benefit from cover. Alternatively you can include rent guarantee insurance in your full management package. Incorporating rent guarantee insurance into your lettings business is a fantastic way to offer additional benefits to your landlords and to ensure you stay ahead of the local competition.
What are the Benefits of Rent Guarantee Insurance?
Legal costs and expenses up to £75,000 per insured incident – for eviction costs, legal defence, damage, rent recovery
Rent arrears, up to a maximum amount of £2,500 per calendar month from the date the tenant first falls into arrears paid until legal vacant possession
75% of the rent for up to two months after gaining legal vacant possession if the property cannot be re-let right away due to damage
We also have a unique option available for HMO's
Variable payment options
Find out how Rent Guarantee Insurance can help you win more landlords and eliminate rent arrears from your letting business.