Our Legal Expenses & Rent Guarantee policy offers landlords peace of mind by off-setting some of the costs incurred when tenants’ default on rental payments whilst still occupying the property. It also covers the legal costs of regaining possession of the property, which can also be costly.

Benefits:

• A 12 month policy term with no excess
• A mediation service is available during the claims process
• Up to 5 tenants can be covered on one policy (single tenancy agreement)
• Cover can be offered for an existing tenancy agreement (90 days exclusion period will apply)

The maximum amount payable in respect of an Insured Event is as follows:

• Mediation Adviser Costs: £330
• Eviction Adviser Costs: £25,000
• Maximum Monthly Rent: £2,500
• Maximum Rent payable: 6 Months or the end of the Tenancy Period whichever is the lesser.

Tenant Referencing

The 4 point check is:

• Identification from the tenant, including a clear photograph;
• Either a utility bill or bank statement;
• Credit check – clear of CCJ’s, bankruptcies & indicating confirmation of residency;
• Confirmation of employment – a written employers’ reference on company letter headed paper confirming the tenant’s permanent and current employment and that their salary is at least a multiple of 2.5 of the Tenant’s Rent (the documents should be no more than one month old from the start of the tenancy).

* Please note that if the 4 point check is applied & is in place, there will be no need to do a ‘Full Profile’ reference check – though in the event of a claim, the responsibility lies with the insured to produce the appropriate documents. A 4 point check is only applicable if the tenant(s) have not yet moved into the property before the first continuous policy is incepted.

About your policy