Loss of Rent Guarantee Insurance
Loss of rent guarantee insurance is a policy term that is built into a specialist landlord’s insurance. It is ideal whether letting your own property on a short-term tenancy or multiple properties as a buy to let landlord. The alternatively named rent guarantee scheme can protect your investment and secure mortgage payments going forward. The letting business is a risk which long-term landlords understand all too well. No matter whether your tenant has full employment, is a DSS tenant, on benefits or the tenancy arranged through a business for a employee. The chance of you experiencing rental payment problems during your letting business career is highly likely. This risk increases exponentially if you are a buy to let landlord. A loss of rent guarantee insurance premium paid monthly, covers all your properties and a tenancies under one single policy document.
The problems that may arise from not having the best loss of rent guarantee insurance policy in place can be insurmountable. Irrespective of whether you have one or ten or fifty properties that you let. Failure to pay a mortgage payment on time could put your entire rental income and letting business at risk. You may well believe that accepting the tenant’s one month guarantee in lieu of any missed rental payments is sufficient insurance. However, eviction of a tenant once legal proceedings begin may well take months to complete. At the end of any court hearing you may only be rewarded £2 a month in damages for the next sixty years. That’s three month’s rent which you have lost forever. Cheap loss of rent guarantee insurance policy inclusion could save you a lot of financial hardship. Further legal advice can be found online with LandordLaw.
The loss of rent guarantee insurance quote can be attained in minutes and secure peace of mind for one or all of your current six to twelve month short term tenancy agreements. Never worry about late rent payments or lost rent ever again. In tandem with this policy inclusion you can also gain access to a free legal help line. And a legal claim line that will offer defence and prosecution in relation to missed rental payments and any other public liability insurance claims which may arise. Alongside buildings sums insured, content’s insurance and public liability, a cheap loss of rent guarantee insurance policy will protect your property investment and rental income. Call for advice, instant cover and the cheapest loss of rent guarantee insurance quote now.