Know More About Rent Guarantee and Legal Protection

When landlords rent out property or a building, they stand a risk of defaults on part of tenants. Tenants may at times, fail to pay rent on time due to many reasons. Due to financial constraints, they may find it difficult to keep up with payments on time. Rent Guarantee also provides cover for costs and proceedings to evict the tenant from the rented property where applicable. If you are not protected against voids and non-payment of rent, that includes legal expenses and the cost of evicting tenants, then you stand a risk of losing out money.

Rent guarantee insurance includes: 

• Instant protection if your tenant fails to pay the rent
• Cover up to £2,500 a month in rent
• 6 or 12 month cover option
• Payment within 14 days of default, minus excess
• Expenses for legal action and tenant eviction

Rent Guarantee insurance provides instant protection if your tenant fails to pay the rent. The insurance cover provides coverage up to £2,500 a month in rent as standard. The policy premium is a one-off payment per tenancy agreement, not based on the amount of rental income you receive. The cover automatically includes legal cover for the cost of taking action against the tenant for unpaid rent, up to £50,000 in legal costs and rent only (not counterclaims). We can also help you get cheap rent guarantee insurance. For this kind of cover, you need not spend a huge amount of money.

The rent guarantee products have been designed to meet the demands and needs of a landlord wishing to protect themselves against tenants falling into rent arrears and associated costs to remove the tenant from the rented property if applicable.