Rent & Legal Protection

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    Rent & Legal Protection

    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

    #2
    Originally posted by peterdo View Post
    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.
    JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
    1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
    2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
    3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
    4. *- Contact info: click on my name (blue-highlight link).

    Comment


      #3
      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

      Comment


        #4
        What about your own home's property insurer? Or contents insurer?
        JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
        1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
        2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
        3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
        4. *- Contact info: click on my name (blue-highlight link).

        Comment


          #5
          Can you get that through your own personal home insurance?

          Currently insured on my own residence through RBS.

          Pete

          Comment


            #6
            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.

            Comment


              #7
              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

              Comment


                #8
                Rentguard.co.uk is the cheapest I believe, it's around £60 for 6 months and £110 for a year.

                Comment

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