Rent Guarantee Insurance
Failed rent payments or disputes with tenants are serious and common issues for property owners,
whether you have a large portfolio or just a single investment. Often the worry of large costs or charges can stop a landlord taking matters further to recover what they are owed.
Rent Guarantee Insurance
Stride now offers Landlords Legal Expenses and Rent Guarantee Insurance to alleviate the worry involved in renting your property and protect you from the costs of problem tenants.
- Rent Guarantee Insurance
Protects against the non-payment of rent by problem tenants.
- Legal Expenses Cover
Gives landlords the financial strength to pursue possession proceedings.
- 6 and 12 Month Policy
Covers the property not the tenant, so a change of policy is not required when there is a change of tenant.
The Landlords Legal Expenses and Rent Guarantee policy offers the following benefits:
- Rent Protection of up to £2,500 a month per Assured Shorthold Tenancy agreement is provided for (up to a maximum of £10,000) should the tenant be unable, or refuses, to pay the rent rightly owed to you.
Landlords Legal Expense Insurance
- Up to £50,000 in Legal Expenses cover for property disputes, repair and renovation disputes, tax protection and health and safety prosecutions.
- A 24/7 Legal Helpline where professionally trained solicitors can provide you with advice and information on how best to deal with any difficult legal issues with your tenants or property.
- Up to £25,000 cover against Legal Expenses incurred in evicting the tenant from the residential property for either non-payment of rent or at the expiry of the Residential Tenancy Agreement.
If an issue arises it is important that you or your agent can speak to the experts easily and quickly, simply call the 24/7 helpline where the dedicated legal professionals will provide advice and assistance.
All tenants must be satisfactorily referenced to ensure that cover is in effect.
The information that must be collected is:
- A credit check obtained from a licensed credit referencing company on a Tenant or Guarantor showing no County Court Judgments in the past 3 years and no outstanding County Court Judgments.
- Copies of 2 forms of identification, one of which must contain a photograph of the referenced tenant.
- Written employer’s reference confirming the Tenant’s/Guarantor’s current and permanent employment and that their salary is sufficient to pay the rent after deduction of normal living costs, and the monthly gross salary should be at least two and half times the monthly rent.
- In the case of students or DSS tenants, a credit reference with a pass rating must be obtained from a recognised tenant reference company.
For more information, contact us on 023 9224 8780, or request a Landlords Legal Expenses and Rent Guarantee insurance quote below. Please note that all cover provided under the Legal Expenses and Rent Guarantee Insurance is subject to Terms and Conditions.