Rent Guarantee

Rent guarantee is a service that provides landlords with protection against financial loss in case their tenants are unable to pay rent. This service is typically offered by insurance companies or property management companies like Rightmove and Diligent.

Here’s some information about rent guarantee that you can use on your website:

What is rent guarantee?

Rent guarantee is a type of insurance policy that protects landlords against financial loss in case their tenants are unable to pay rent. It typically covers the rental payments due under the tenancy agreement, as well as any legal expenses incurred in evicting non-paying tenants.

How does rent guarantee work?

To benefit from rent guarantee, landlords typically pay a monthly or annual fee to an insurance or property management company. In exchange, the company provides them with a guarantee that they will receive their rental payments, even if the tenant fails to pay.

If the tenant does not pay rent, the landlord can file a claim with the rent guarantee provider. If the claim is accepted, the provider will pay the outstanding rent to the landlord. In some cases, the provider may also cover the legal costs associated with evicting the tenant.

What are the benefits of rent guarantee?

Rent guarantee provides several benefits to landlords, including:

Financial security: Rent guarantee provides landlords with protection against financial loss in case their tenants are unable to pay rent.

Legal protection: Rent guarantee may cover the legal costs associated with evicting non-paying tenants.

Increased tenant screening: Rent guarantee providers typically require landlords to carry out more thorough tenant screening, which can help to reduce the risk of renting to unreliable tenants.

Peace of mind: Knowing that they are protected against financial loss can give landlords peace of mind and help them to manage their properties more effectively.

Who can benefit from rent guarantee?

Rent guarantee can benefit any landlord who is concerned about the financial risks associated with renting out their property. It can be particularly useful for landlords who:

Are new to the property market and may be unsure of their tenants’ reliability.

Depend on rental income to pay their mortgages or other expenses.

Want to protect themselves against the risk of rent arrears and legal disputes with tenants.

How do I sign up for rent guarantee?

To sign up for rent guarantee, please reach out to our Lettings department. Our team can provide you with information about our rent guarantee service, including our policies, fees, and any other details you need to know. We can help you choose the policy that is best suited to your individual needs and ensure that you have all the necessary information to make an informed decision. Once you have decided to proceed, we will guide you through the sign-up process, which involves providing information about your property and tenants, as well as agreeing to the terms and conditions of the policy. Please feel free to contact us to learn more about how our rent guarantee service can benefit you as a landlord.