Rent Guarantee and Legal Protection

After a recent tenancy that had been running for seven years went terribly wrong we wanted to remind all our landlords of the benefits of taking this insurance on their current tenancy. The tenant in question had never missed a rent payment, and was keeping the property well, but all of a sudden the locks were changed so we could not gain access,  and the rent stopped being paid. The landlord on this occasion had taken out Rent Guarantee and Legal Protection a couple of years previously very much as ‘Belt and Braces’ even though his tenant had never defaulted. The tenant was taken to Court via the insurer all the way to the need for a Bailiff, at no cost to the landlord, and the rent until possession was obtained was guaranteed with nil excess on the policy. The deposit held against damages was utilised to prepare the property for the next let. Our landlord was most impressed with the service saying ‘it was the best decision he has made for a long time’. See full comments below.

Although we work very hard to ensure your tenant when taking a property is free of known risk, you can never predict what is in the future. For only £270.00 a year  ( £22.00 a month ) this insurance can give you total peace of mind. If you would like to discuss this further , please do not hesitate to contact Mike, Steve or Karen who can provide you with further details.

When M&M Properties first offered us Rent Guarantee and Legal Protection Insurance, we thought we had managed for twenty years without it with good tenants for all that time. After careful consideration, we thought it may be tempting fate not to take them up on the offer.

A few months down the line, M&M Properties informed us that our tenant had stopped paying rent and they would deal with it on our behalf with the insurance company. Unfortunately, after a few months it had to be taken to court and the tenant was served notice to leave the property to no effect. The matter was then transferred through the court to the bailiffs and we subsequently re-claimed possession of our flat.

From the time that M&M Properties informed us of the problem everything was dealt with by them with no inconvenience or cost to us whatsoever. The full rent was paid right up until the day the bailiffs took possession, six months after the tenant first stopped paying rent.

We would thoroughly recommend M&M Properties’ Rent Guarantee and Legal Protection Insurance”

.

 

By | 2018-06-08T16:01:30+00:00 June 7th, 2018|Categories: Landlord, Lettings|0 Comments

About the Author:

Leave A Comment

one × 2 =