Rent Guarantee Insurance

If you have done your tenant screening and tenant verifying properly hopefully you won't have problems with your tenant paying rent. However, even with the best of intensions tenants can have difficulty paying their rent through no fault of their own. Illness or sudden redundancy can stick at any time. If you are unlucky enough to get saddled with a bad tenant you could be in for a longish period of legal battles until you obtain possession through eviction.

Rent Guarantee insurance therefore is an excellent and relatively inexpensive (3 to 5% of rental) way to minimise your risk and is especially valuable for landlords with perhaps only one property, which may be heavily mortgaged. Landlords with a portfolio of properties can usually stand a period of non-payment, whereas a single property owner may not be able to maintain mortgage payments in these circumstance, putting the whole investment at risk.

Rent Guarantee insurance normally only obtainable once you have comprehensively verified your tenant - see Tenant Verify website for more information.

Click here for a Landlords insurance quote

Posted by Holly on 20/08/2007