Posted by Admin - 07/09/2015
Landlords lose £6,500 a year, on average, to damage, repairs and rent arrears. Quite frankly, you should never enter into a tenancy without a rent warranty and legal protection.
The benefits include consistent and guaranteed rental income in the event that a tenant cannot or will not pay rent. It also includes cover for legal fees involved in evicting tenants, solicitors’ fees, court costs, bailiffs and even malicious damage which can easily reach thousands of pounds. Even better, your membership will cover all of this so you are not out of pocket.
It is often thought that a Rent Warranty Policy’s main benefit is to ensure your rental income. However, the benefits far exceed simply insuring your rent. Policies are designed to ensure not only is your rent paid, but also ensure speedy repossession. We believe this to be a key benefit as often, tenants that do not pay rent are also not taking very good care of the property either. By quickly and effectively evicting the Tenants, it will allow you to maximise on the deposit amount to carry out any remedial works on the Property, which in turn will ensure your properties value is not affected in the long term.
If you are looking to buy a rent warranty product independently or through an agent, make sure you do not have an excess and ensure that the cover is high, our scheme covers up to £50,000 – remember this is to cover legal fees, not just the rent.