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Family Homes Sittingbourne - Rent Protection Insurance


A Landlord Without Rent Protection Insurance is a Landlord Out of Pocket

Typically, throughout the tenancy, landlords will worry both about the collection of their rent and the welfare of their property. That said such concerns are NOT addressed under the same insurance policies. That is to say that Rent Protection Insurance is different from Building and Contents Insurance. If, for example, your property is damaged by a tenant then you would need to claim on your Building and Contents Insurance. Should your tenant stop paying their rent however, then your Building and Contents Insurance would be of NO USE at all, and instead you would need to claim on Your Rent Protection Insurance.

Our professional experience has taught us the importance of this service given the fluctuating nature of the tenants' financial situation. Often through no fault of their own, tenants' circumstances can a turn for the worse, affecting their ability to pay the rent. Indeed this is why we choose to provide it free for your first period of tenancy.

 

Three Questions to Make Your Mind Up Over Rent Protection Insurance.

Question 1 - Why Are You Renting Out Your Property?

If, as I presume is the case, the answer is "FOR INCOME", then under no circumstances can you afford not to be covered by Rent Protection Service. It's your income, you need it to survive, so don't leave it to chance. It's like jumping out an aeroplane without a parachute.

Question 2 - Would you like to receive Rent Protection Insurance for free?

Yes, obviously. With this in mind, one of the key benefits of letting your property through Family Homes is that we choose to supply it for the first period of tenancy, be it 6 months or a year.

Question 3 - What's your "PLAN B" if your tenant defaults on their rent?

Whilst the 6 week deposit paid by the tenant at the start of their tenancy can in part be used to cover any rent default, provided that this deposit hasn't already been required to fund any damage, it is certainly not uncommon for a tenants rent arrears to span months. Partially as a result of the compulsory 14 days that must be given to the tenant after having served a section 8 notice, the extensive delay comes primarily as a result of the sheer number of applications to the civil court - 5 months in total. That's 5 months income lost. The same income you would have used to pay your mortgage.

That's why we say Rent Protection Insurance should be your only plan.

So to know that 5 months of potentially lost income could be protected probably comes as a massive relief... and at NO EXTRA COST when you let through Family Homes.


Get Protection For Free Today - Call 01795 473434


Last Year for example, one of our swale based landlords benefited directly from Rent Protection - comparatively they were one of the lucky ones. Indeed, whilst the tenants stopped paying rent, after one of them lost their job and thus problems between them increased, the landlords' income from the property wasn't affected given that our new management system highlighted the problem instantly, and so we were able to claim on the Rent Protection Insurance on the landlords behalf. Had the Rent Protection Insurance not been in place then the landlord would have lost £4000 in rent arrears as well as the additional court and legal costs involved in regaining legal possession of your property.

Once in place you, the landlord, no longer has to worry about protecting your income, then finally you can relax and start reaping the reward of your hard work.

 

Increased peace of mind in an uncertain economy  •  Protect your income should your tenants lose theirs

 

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