Rent Protection Service

Why you would need the Letting Genie Rent Protection Service?

Letting Genie are delighted to offer their Legal Expenses and Rent Protection Service underwritten by Temple Insurance.

Unfortunately, some tenants do accrue rent arrears during their tenancy. Whilst we have a robust referencing process it cannot account for significant changes in a tenant’s personal circumstances such as relationship break-down, employment changes or illness and injury which can result in arrears accruing.

If you need to evict a tenant through a Court Process the Legal Expenses mount very quickly.

A simple eviction process can involve fees in excess of £700 and take 6 months or more before you regain possession of the property, often without any rent being received during this time.

If the eviction is challenged, or it is not a straight-forward process, the legal costs will continue to rise and the process is likely to take longer to regain possession.

You will be unable to re-let the property until you have gained possession. Existing tenants now must give 2 months’ notice to their landlord, so the property will probably remain empty for 2-3 months after you have regained possession.

What does the Rent Protection Service cover?

• Guaranteed Rent: Full rent covered for up to 12 months if your tenant stops paying, up to £3,000 per month, £36,000 p.a.

• Legal Expenses: Up to £100,000 for any one claim to cover eviction or court action. This includes Rent Recovery; Eviction; Property Damage; Health and Safety; Tax Investigations.

• Re-Let Cover: 60% of rent for up to three months after eviction, providing time to re-let the property.

• Full Claim Preparation and Handling Support: Our in-house team prepare all documents, reports and information to support any claim, liaise with insurers and solicitors, plus attend court with insurers legal representatives. This essential support is normally charged at £75-£100 per hour where you do not have this service included.

The Service applies to a property, not individual tenancies, ensuring continuity even when tenants change (provided all tenants pass referencing) and it is also subject to tenancy law.

Where can I find out more Information?

Use the Contact Us button below to request further information.

Letting Genie property concierge services, property management and letting agents for Milton Keynes, Aylesbury, Bedford, Northampton, Rushden, Wellingborough, and London.

Call today on 01908 535000

Email us at enquiries@letting-genie.net