- Rental protection insurance will cover your rental payments if your tenant stops paying their rent.
- Statistics from LSL Property Services show that over 65,000 UK tenants are in ‘severe arrears’ of over 2 months rent.
- Even the most reliable tenants can struggle to pay their rent, especially while we live in such uncertain economic times.
- If your tenant stops paying their rent, it could take you 9-12 months to get a possession order through the UK courts.
That is why, at Ashington Page, we urge our Landlords to add their rental property onto our Goodlord Rent Protection Policy.
- Goodlord’s policy will protect your rental payments for 15 months.
- They will manage the eviction process and recovery of your property for you.
- They have a speedy, online claims process.
- They even offer a free mediation service if you want to use it.
- Goodlord will also work to recover any outstanding rent and ensure that you do not lose out during the process.
- The policy will also cover you for an additional 75% of 2 months rent while your property is vacant and you are getting it ready for the next tenancy.
- The Goodlord policy is underwritten by DAS Insurance UK who have been in business for over 40 years.
- The claims team won “Claims Partner of the Year” at the Insurance Times Awards 2020 due to their speedy claims process, which takes less than 10 minutes.
CHECKLIST: WHAT TO LOOK FOR WHEN CHOOSING YOUR RENT INSURANCE POLICY
1. How soon will I be paid if my tenant stops paying their rent?
2. How quickly can I make a claim?
3. What is included in the legal expense part of the policy?
4. How long will the rent protection continue?
5. What happens if I have a long void period because the property needs work once the tenants are evicted?
6. Who underwrites the policy?
If you would like to know more about the Goodlord Rent Protection policy please contact the lettings team today on 01494 685518.
Download our pricing brochure HERE