Rent Guarantee insurance is designed to protect you the landlord against tenants failing to pay the rent. The policy will also normally cover up to £50,000 for landlord’s legal costs.
Providing you do a comprehensive tenant credit checking you should reduce your problems with rent payments to a minimum. That is where a good letting agent can help you.
Even the best tenants can sometimes fall on hard times. If paying their rent becomes a problem, through no fault of their own , they could fall ill or worse still they are made redundant.
This could mean that you have a period of several months without a rent payment. If your property is mortgaged this is likely to put you under financial pressure – in fact for some landlords it will be a disaster as they could lose their property.
Rent Guarantee and Legal Expenses Insurance is good and sensible way to reduce risk and protect you from this sort of disaster. It’s most important for landlords with only one or two properties which are mortgaged – where your investment would be at risk if you cannot keep up your mortgage payments.
Through The Accommodation Shop we can offer a variety of carefully selected polices to cover both managed and non-managed properties. We deal direct with the market leaders and are therefore able to offer highly competitive rates on cover for your investment.
Call our offices today on 01304 226666 for South East Kent or 01634 851617 for the Medway Towns and North Kent.