As managing agents we highly recommend that landlords take out A Rental Guarantee.
If a Rent Guarantee Cover is not in place then this is the likely outcome for landlords is:-
• Loss of income
• Costs of court fees
• Bailiff costs if a tenant fails to vacate
• Costs of Legal Fees
The Rent Guarantee Cover provides up to five rental payments, costs and proceedings to evict the tenant from the rented property. Taking out this policy will ensure you don’t face a problem in future when it comes to default payments on rents.
The Rent Guarantee also includes the following:
• Specialist in-house legal claims team
• All legal costs incurred in evicting the tenant as a result of non-payment of rent, up to a maximum £25,000.
• No restriction on tenant type
• Choice between a 6 and 12 month option
• Renewable cover
• Up to five rental payments on a 12 month cover
• Up to four rental payments on a 6 monthly cover
• Excess equivalent to one months rent
The cover is automatically put in to place free of charge by Key Properties once a new tenant is referenced, whether this being a 6 or 12 month contract.
If you have any further questions please do not hesitate to contact a member of the Key Properties today on; 0161 876 0070.