Certainty in Uncertain Times
Specialist Landlord Legal Expenses & Rent Guarantee Insurance - Can you afford to rent your home without it!
Even the best of tenants can fall on hard times. In fact, most rent defaults are due to an inability to pay when circumstances change, rather than a refusal. While you may be sympathetic you still need to receive your rental money.
In the unfortunate event that your tenant defaults on the rental payments, you could become tangled up with rental arrears and legalities in order to get them out of your property. This is not only a lengthy process but one that will undoubtedly leave you out of pocket from not only loss of rental income but also legal expenses.
It is worth considering the following:
If your tenant stops paying the rent for say 4 months based on an average rent of £800 then you will be out of pocket by: £3,200
Average legal costs to evict a tenant are: £ 800
Loss of income & costs £4,000
We recommend to all our Landlord clients to take out the Rent & Legal Protection policy. Should the worst happen then it need not be a disaster – this insurance policy will not only cover your rental income but also your legal expenses.
We do not claim to be insurance experts and we therefore use Property Risks to provide this service. In order to qualify for this cover, your tenants must have passed our comprehensive referencing process which is also undertaken via Property Risks.
Landlords Buildings & Contents Insurance
When letting your property it is vital that you ensure that you are properly insured for both Buildings & Contents. As a Landlord you are exposed to more risks that you may think and a standard household contents policy won’t give you the cover you need. Even if you are letting your property unfurnished, it doesn’t mean that it is empty.
We work with providers who design their contents policies especially for Landlords – who let their properties both furnished and unfurnished. Contact us now for details.
Plus don’t forget that insurance premiums for your let property are often tax deductible!