Landlords Rent Recovery & Legal Guarantee Cover
Regency Lettings & Property Management are delighted to be able to offer what is possibly the most competitive and comprehensive rental recovery and legal guarantee cover available.
100% of the monthly rent paid for up to six months from the date of the first arrears.
Legal expenses up to £50,000 to cover eviction costs or breaches of tenancy agreement. 50% of the rent paid for up to two months after vacant possession has been obtained, whilst new tenants are found. The cover we can offer to all Landlords including Tenant Find only. Cover starts from as little as £12 per month.
At Regency Lettings & Property Management we carry out stringent vetting of prospective tenants and thorough market leading insurance & referencing provider Homelet carry out full credit checks and referencing on all tenants. Such stringent vetting makes it unlikely for our Landlords to experience problems with non-paying tenants. Occasionally however tenants can encounter difficulties beyond their control such as losing their job and being unable to pay the rent or full rent, even more rarely tenants may fail to move out of the property at the end of the tenancy or break the terms of their tenancy agreement.
For most Landlords their rented property is one of the largest assets they own, and in many cases the property is owned via a Buy to Let mortgage, with reliance on rental payments to meet their mortgage commitments. To seek possession of the property through the courts can be costly and more importantly can take three or more months, with no guarantee of getting your rent arrears at the end.
Rent Guarantee policies are available to cover such eventualities but many are expensive, complicated to manage and often will not cover properties which let for over £3,000 pcm or will not cover Let Only Landlords. Regency Lettings & Property Management are therefore delighted to be able to offer what is possibly the most competitive and comprehensive rent recovery and legal guarantee coverage available for all Landlords on properties with rentals up to £5,000 pcm.
The guarantee coverage is taken out on your whole property, regardless of tenants or change of tenants. Regency Lettings & Property Management directly insure your property with Homelet on a policy underwritten by Propgen Insurance Limited, with your interest being registered. This enables us to offer the Regency Lettings Rent Recovery & Legal Guarantee Cover to all Landlords including Tenant Find only clients.
Regency Lettings & Property Management are able to offer you the coverage at highly competitive rates, as unlike some agencies we do not 'front load' the cover with costs that we hope you will never need – such as Court Appearance day/half day charges, preparing and sending documents to solicitors for rent arrears and possession. In the unlikely event that you will need to use the cover any such costs will be charged only as and when you need them.