Our clients often ask us for help in growing their portfolio, raising finance or insuring their assets. The insuring part which used to be simple has become difficult to keep on top of. Between malicious damage and absconding tenants, landlords are always looking to minimise the risk.
If you are a landlord and have tried to insure your rental payments against default and then attempted to make a claim you’ll know just how useless those landlord rent guarantee insurance policies can be. With more holes than Swiss cheese the lettings industry has designed those policies not to pay out and when it does it can take up to 90 days to receive your claim.
When our landlords asked about rent guarantee solutions we were always hesitant to recommend an off the shelf rent guarantee insurance product. However a new innovative rent guarantee solution has become available that offers total piece of mind.
Rent guarantee from advanced rent provides your rent on time, every time, no claims, no late payments no tenant evictions. They do the chasing, they cover the legal costs and throw in landlords emergency repair cover (including boiler breakdown) for good measure. What’s the catch? Well it will cost you 6% of your monthly rent, against a traditional policy (that rarely pays out, mind you) of £150pa, but we think it’s a small price for zero risk on your mortgage payments.
It’s that simple and it works. Ask your adviser about how you too can plan ahead without considering any voids again!