Rent & Legal Protection

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  • Marky T
    replied
    Rentguard.co.uk is the cheapest I believe, it's around £60 for 6 months and £110 for a year.

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  • peterdo
    replied
    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

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  • Poppy35
    replied
    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.

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  • peterdo
    replied
    Can you get that through your own personal home insurance?

    Currently insured on my own residence through RBS.

    Pete

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

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  • peterdo
    replied
    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

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  • jeffrey
    replied
    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.

    Leave a comment:


  • peterdo
    started a topic Rent & Legal Protection

    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

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