It's a sad fact that many landlords' rental income is being put in jeopardy by letting agents who are gambling with their money. These agents are putting your rental income at risk by not offering rent guarantee and legal cover insurance as part of their fully managed service. This leaves you, the landlord, unprotected if your tenant fails to pay rent or causes damage to your property.
On average one in ten tenants fall into arrears and this figure is rising due to the current economic climate. The best tenant in the world can still, unfortunately, find themselves being made redundant from their job, stop working due to ill health etc. Rent guarantee and legal cover is the most important component of a managed rental property.
The cost of having a tenant evicted who has stopped paying their rent is a lengthy and costly process and on average can cost the landlord £6000 (including lost rent) and can easily rise into five figures if the tenant contests the eviction.
Rockett Home Rentals fully managed service includes rent guarantee and legal cover as standard.
This insurance covers the rent up to you regaining possession of your property as well as all legal costs.
If you don’t have rent guarantee insurance, then you would have to pay for court fees, bailiff fees, and legal fees, all whilst you’re receiving no rent from your property, do you really want to take that gamble? Letting agents who don't offer this insurance as part of their fully managed service are gambling with your money and leaving you at risk.
Landlords protect yourself and your investment by making sure that you have the proper protection in place.