What is rent guarantee Insurance?
A landlord's life can be extremely stressful and this stress is only increased when a tenant fails to pay their rent. When this happens, it comes with a multitude of repercussions for the landlord. In most cases the landlord still has a mortgage that needs to be payed and when enough payments are missed the property is at risk of being repossessed.
If the payment of rent is missed several times the Landlord may even consider having the tenants evicted from the property with help from a court of law. Now this costs money. On average it will cost a Landlord about £2000 over a time period of about 6 months. That's 6 months of lost rental payments! Not only does this cost a lot of money but it's extremely time consuming, stressful and unnecessary.
Is there a solution to prevent all of this from happening in the first place?
There certainly is! Here at LetHQ we have developed a game changing rent guarantee insurance policy, specifically tailored for Landlords and Lettings agents across the UK. Our rent guarantee policy comes with No Excess so there is nothing to pay should you need to make a claim. 75% of the monthly rent is also payable for up to 2 months after vacant possession is gained, further benefiting you during a void period until the next tenancy commences.
Here are some more key facts
- No Excess To pay
- Up to £100,000 towards legal fees to evict a tenant
- 75% of the monthly rent payable for up to 2 months after vacant possession gained
- Eviction notices served for you and Defence costs included
- Scottish tenancy agreements are acceptable
- Choose from 6 or 12 months cover
- Pay monthly option
- For rent up to £2,500 a month
- 24-hour legal advice helpline
This policy is designed to make your life easier. If you would like to purchase, obtain a free quote or find out more about our Rent Guarantee Insurance Policy, click here.