Rent Guarantee Insurance protects landlords in the event that a tenant fails to pay the rent.
Most Landlords do their best to ensure that they let their properties to the best possible tenants – unfortunately it’s a fact of life that events happen beyond our control.
If a tenant falls behind on their rental payments it could have serious financial implications for the landlord, especially if they have mortgage commitments on their respective property.
This is a type of insurance where, for a relatively small annual fee, landlords can protect against loss of rent. Landlord rent protection insurance is combined with Legal Assistance Insurance wherein the landlord’s legal costs of recovering rent and/or evicting a non-paying tenant are covered.
If a landlord is not getting the rent on time, he or she can be rest assured of getting the rent easily with help from rent guarantee insurance. Tenants are professionally credit checked before handing over the keys. This kind of insurance is very useful as it helps them keep their property protected without a letting agent, as the necessary checks involved actually tend to deter rogue tenants
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Rent protection insurance keeps the interest of the landlords safe. Tenants who are likely to default on paying rent can keep themselves protected. Rent guarantee insurance is a type of insurance that keeps a landlord protected against any kind of proceedings to evict the tenant from the rented property where applicable. If you are protected against voids and non-payment of rent, including legal expenses and the cost of evicting tenants, you can make it happen through this kind of insurance.
By availing this kind of insurance, you can look forward to:
- 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
Call Goldcrest today on 0208 440 7400 to find out about our rent guarantee insurance for landlords