What is Rent Guarantee?
Rent Guarantee will protect you in the event that your tenant fails to pay the rent.
Most Landlords do their best to ensure that they let their properties to the best possible tenants - however due to unforeseen circumstances events happen beyond our control.
If a tenant falls behind on their rental payments, it could have serious financial implications for you, especially if you have mortgage commitments on your property.
Evicting a tenant in this day and age, from start to finish, can be in excess of £2,000.
At Innovate, we offer a product which covers our landlords for rent should a tenant fall into arrears. Should we also need to evict the tenant for any breach of tenancy, we shall also cover your eviction costs up to £25,000. You'll also have access to our specialist in-house legal team.
When tenants can't or won't pay, you're protected
- Cover for the total monthly rent, no matter how many tenants are on the tenancy agreement.
- 100% of the monthly rent paid for - up to a maximum of six months from the date of the first arrears (sufficient time for eviction).
- Legal expenses up to £25,000 to cover eviction costs if the tenant is in breach of their tenancy agreement.
- Covers breaches of the tenancy agreement by the tenant, including non-payment of rent and expired section 21 notices.
- 50% of the rent paid up for two months after vacant possession has been obtained, whilst new tenants are found.
- 12 months' cover with no excess to pay!
- This also covers the whole property meaning the policy continues even when/if the tenants change.