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Guarantee your rental income for ultimate peace of mind
However thorough the referencing process undertaken is (and rest assured we’re thorough!), you can never be absolutely sure that a tenant will pay the rent, unless its paid up front and in advance. Therefore, irrespective of how strong a tenant appears to be, when they move in its always possible that they may be affected by an unexpected event, such as: redundancy, a relationship ending, illness or another unexpected occurrence, especially in the current unsettled climate.
That’s why, at Brock Taylor, we always recommend that our landlords’ take out a rent guarantee insurance, preferably with a zero policy excess and built in legal fees, which is what we are able to offer. The policy we recommend is extensive, as it covers rent arrears owed by the tenant during the tenancy and until vacant possession has been obtained. It also includes both legal expenses and the cost of advisors needed to obtain possession, in the event that a tenant violates the tenancy agreement.
The cover that we offer provides recompense for lost rent up to £1500 per month, in addition to up to £25,000 in legal expenses too. The great thing about the policy is that it is uncomplicated, meaning that if the tenant stops paying then the rent will be paid by Van Mildert, our provider instead. The legal expenses provide an additional safeguard to cover costs incurred in removing a tenant if they refuse to leave a property. This is important is if a tenant approaches a council for alternative accommodation they are usually advised to stay in situ until evicted.
The only criteria required to protect the rent is for the tenant to pass a comprehensive reference, which is part of our standard service for landlords anyway.
If you would like more information on this service or would like to benefit from the extra peace of mind that it will provide, then please just get in contact, as we will be delighted to help. In addition we can also provide competitive quotes for both landlord and tenant insurance too.