Landlords have you thought about what you do if the tenant didn’t pay the rent?
Can you afford to be out of pocket? With our Rent Guarantee option we have you covered.
RENT ARREARS EXAMPLEBASED ON A RENT OF £800. AVERAGE PROCESS TAKES 8 MONTHS |
|
|---|---|
| Tenant must be 2 months in arrears before eviction proceedings can begin | £1600 |
| Court fee to evict tenant | £391 |
| Solicitors fees for serving court paperwork and attending hearing | £1000 |
| Around 8 week wait for court hearing - Judge grants 28 day possession order, still no rent paid | £1600 |
| Possession order expires and tenant still hasn't moved out so baliff required | £800 |
| Baliff court fee | £143 |
| Solicitors fees for serving court papers | £300 |
| Countrywide shortage of baliffs means 10-12 week wait for an appointment with still no rent being paid | £2400 |
| POTENTIAL LOSS TO LANDLORD (not including any damage to property, lock changes etc.) |
£8234 |
The example above can show how long it can take to evict a tenant but more importantly just how much money can be at stake for landlords from a non-paying tenant.
While our rigorous referencing process can remove some of the risk it can never remove all of it as sometimes the tenant just cannot pay the rent due to redundancy or ill heath etc, particularly since the recent Pandemic. Figures have shown that property possession claims through the courts have risen 225% since 2013. We have worked hard over the years with our referencing partners to help create a robust product that actually works as we have seen plenty of so called “rent guarantee” policies that are not really worth the paper they are written on.
With our policy you will be covered for the following if you have a non-paying tenant:
- 100% of rent paid until vacant possession
- No excesses to pay
- Up to £100,000 worth of legal cover including all eviction costs
- 90% of rent paid after vacant possession for up to six weeks to help cover void periods
- Up to £250 for any damages that exceed the deposit amount
- Eviction of squatters
What’s best is that all this cover costs less than two days rent per month with our management service. The question we ask landlords is; would you sacrifice two day’s rent per month to guarantee you will still get that rent? We know we would and such is the demand for this service this is fast becoming our standard service.
Click the contact us button below to make an enquiry at any time or call your local office during working hours:
Coventry 024 7659 2255
Birmingham 0121 270 1880
Rugby 01788 553939