Landlords.... would you like your rent guaranteed?
Have you lost money as a landlord due to tenants failing to pay rent? It is one of our landlords’ greatest worries. Let’s face it, being a landlord is hard enough as it is, what with the constant changes to legislation and regulations making it hard to keep up. The last thing you want to be doing is wasting your precious time chasing rental income - this is where we can help.
We have recently introduced a Rent Guarantee scheme across all our branches for landlords who use our managed service.
“We are known for the quality of our lettings service and we are always looking at ways to add value. We are so confident that we can find a suitable tenant we will guarantee that your rent and legal expenses will be covered, should there ever be an issue,” said Natalie Young, Director of Lettings.
What is Rent Guarantee?
Bidmead Cook holds the insurance for the Rent Guarantee scheme that we offer to our landlords. We can’t advise you on the insurance, as it is a financial product, but we can claim on your behalf should there be any issues.
Evictions; according to the Landlord Possession Statistics for January to March 2017 provided by the Ministry of Justice, the number of private landlord claims was only 16% of the overall claims made, the majority being from social landlords. With our tough but fair referencing checks and our commitment to working with both landlords and tenants throughout their tenancy, we always strive to avoid evictions.
However, should this situation arise, we know how stressful and frustrating it can be, never mind the costs of legal expenses, which can run into thousands. Knowing that should you ever find yourself in this situation you have effective cover will be a great comfort, especially for the more risk averse landlords.
Under our Rent Guarantee your rental income is protected and will be paid to you in a situation where your tenant fails to pay the rent on time, or falls behind on rental payments.
Rent Guarantee is a great addition to our managed service offering, and has already been popular with the landlords whose properties we manage. If you would like to discover more about how the scheme can protect you and your assets should something go wrong, contact the lettings department at your local branch for further information.