At LetRef we understand that even the best intentioned tenants sometimes fall on hard times meaning they may be unable to keep up with their rental payments.
It is more often than not a change in circumstances, such as redundancy or long term illness, which causes a tenant to default on their rent rather than an unwillingness to pay.
While it is only natural to be compassionate to their plight, the landlord still has a mortgage to pay and that's where a Legal Expenses & Rent Guarantee insurance policy can help.
Key Benefits of Rentguard Legal Expenses & Rent Guarantee Products
The policies are valid for up to 5 tenants on one tenancy agreement
If the current tenant moves out, the policy will still be valid for the new tenants as long as no claim has been made under the policy and the new tenants have been properly referenced according to their status before they move into the property.
On renewal of a Legal Expenses & Rent Guarantee policy, as long as there has not been a break in the tenancy, the tenants circumstances have not changed and there have not been any payment issues, there is no need for the tenants to be re-referenced.
Rentguard Insurance can cover properties where the tenants have already moved into the property as long as they are subsequently referenced and pass the process. However, a claim cannot be put forward for the first 90 days if the tenants moved into the property before the policy start date.
Each Legal Expenses & Rent Guarantee policy put on cover has to be supported by Tenant Referencing through LetRef Ltd. Each person named on the tenancy agreement should meet the Tenant Referencing Requirements of LetRef Ltd.
Rent Guarantee protection is easy to arrange, simply click below for instant cover.