Rent & Legal Protection

[peterdo]

Does anyone purchase this cover, if so, who do you use?

I currently have tenants in place but the I am about to take over the mgt of the property from the agent (whom I have the cover through), however, most seem to have a 90 day exclusion period for existing tenants!

Cheers

Pete

[jeffrey]

Does anyone purchase this cover, if so, who do you use?

I currently have tenants in place but the I am about to take over the mgt of the property from the agent (whom I have the cover through), however, most seem to have a 90 day exclusion period for existing tenants!

Cheers

Pete

1. Try MARAS.
2. Also try the insurer which is providing buildings insurance. "Add-on" cover is often a cost-effective option.

[peterdo]

Thanks Jeffrey,

Is Maras available to private landlords, I got the impression from their web-site that you had to be an affiliated landlord to buy the cover?

My buildings cover is placed through the builder as I am leasehold so may not be an option.

Sods law the tenant would fail to pay in the 90 day exlusion period, considering I have the tenant on a periodic tenancy, it would be easier and more cost effective to give 2 months notice and just purchase the legal protection element.

Will contact Maras to check availability.

Many thanks

Pete

[jeffrey]

What about your own home's property insurer? Or contents insurer?

[peterdo]

Can you get that through your own personal home insurance?

Currently insured on my own residence through RBS.

Pete

[Poppy35]

normally its only provided by the company that actually carry out the referencing. We use FCC Paragon however MARAS, Letsure, Homelet etc are the big names to speak to.

[peterdo]

Right, I am now having some problems with this. I have now been told that the tenancy must be for a minimum of 6 months, that is understandable for a new tenancy, however, this is a switchover from the letting agent and as such I have decided to run the agreement on a periodic basis as opposed to extending the agreement for a further 6 months (and then inserting the clause)

Whats my best course of action, I am tempted to skip the Rent Insurance on the basis that if my tenant doesnt pay, i will have her out within 3 months via serving notice under the periodic tenancy arrangements, the insurance has a 1 month excess anyway and I can claim back any other amounts via small claims court etc (all presuming the worst happens and the tenant doesnt pay, only 1 slip-up in 7 months)

If I did decide to offer a 6 month extension with the (1 month T, 2 month LL clause) what form would I need to formalise this?

Many thanks in advance

Pete

[Marky T]

Rentguard.co.uk is the cheapest I believe, it's around £60 for 6 months and £110 for a year.