Monday, 7 June 2010

Rent Guarantee claim a landlord's experience

HomeLet's June 2010 edition features an article "A Real rent Guarantee Claim" As many landlords have now taken out Rental Guarantee insurance it is interesting to see what happens when you have such a policy and how it works.

The tenant had gone into arrears from 1st February on a monthly rent of £1,000. The landlord was living abroad but luckily had arranged Rent Guarantee through their letting agents. The landlord got in touch with HomeLet and took advice from their expert Legal and Claims team and arranged to make a claim under the cover at the earliest opportunity after the tenant ran into two months of arrears.

Notice was served and had the desired result – the defaulting tenant’s neighbours confirmed he was moving out and the landlord was able to secure possession of the property abandoned by the tenant. HomeLet paid a total of £2,158.61 in lost rent to the landlord, who incurred no cost at all for the legal work carried out and suffered no losses of rent as a result.

At HomeLet they deal with their Rent Guarantee claims in-house – but what did this particular landlord make of their service?

‘I would like to thank you most sincerely for the very unusual level of efficiency you have shown throughout this whole claim. Unfortunately, I rarely come across the level of customer service I have received from you and have found it to be most refreshing. Thank you, once again’.

I have personally used the HomeLet in house legal service and found them also to be most helpful.

We’ve all now heard lots of news about the national rise in unemployment, the increased cost of living and many people living out of their overdrafts. Sadly we know that even the best tenants sometimes fall on hard times. That’s why Homelet offer a range of Rent Guarantee solutions that can help landlords.

Looking for more information? Follow this link.


rent guarantees said...

The Landlord who lets a property then you run the risk of rent default by your tenant. Even the best checks and references cannot predict a tenant falling on hard times and not being able to pay their rent.

plumbing said...

Landlords really have the power with the house. I personally, agree that rent guarantee claim landlords.