If you are a Landlord who lets a rental property in the UK, could you cover your expenditure if the worst happened to your tenant’s finances and all of a sudden they were unable to pay the rent?
Recovering debts or even rent arrears can be difficult and costly for landlords, without any guarantee of success. In the current economic climate, many landlords are finding their rent default rates soaring as tenants struggle with rising unemployment, increasing bills and ever decreasing finances.
UK landlords may have heard about Rent Guarantee insurance but many do not fully understand what the insurance policy involves or even covers.
Without proper protection, all landlords run the risk of rent default from tenants. Even the best Tenant Referencing services cannot predict if a tenant will fall on hard times and experience financial difficulties resulting in them not being able to pay their rent.
Rent Guarantee and Legal Expenses Insurance will protect landlords from defaulting tenants by ensuring that rental payments are made direct to the landlord in full. The cost of the eviction of defaulting tenants is also covered within the same policy.
Legal 4 Landlords pride themselves on delivering a valued, unique and robust product. Unlike most other rent insurance providers, they cover multiple tenants with just one policy, which guarantees the landlord 100% of the total monthly rent.
Contact Legal 4 Landlords to find out more about Rent Guarantee Insurance