If you are one of the many UK landlords who rely on monthly payments from tenants to ensure your income; then you are not alone. But in this current climate especially; even the best-meaning tenants in the world can suddenly find themselves facing circumstances outside of their control; finding themselves unable to pay their rent – and leaving you, of course, in an unenviable situation. Considering rent guarantee insurance? There might just be a better option…
Landlord Rent Guarantee Insurance
It’s perfectly natural (especially in the current climate) that you would be considering rent guarantee insurance.
You are seeking peace of mind; but not every rent guarantee is created equal.
If you are considering a rental guarantee scheme; it’s essential that you have a full understanding of exactly what it is that your rent guarantee covers. Whilst you can most likely reclaim money through the insurance company; it’s also possible that you may only be able to get a portion of it back. Plus – it can be a huge drain on your time and resources.
Rental Insurance Options
If you are on the look-out for rent guarantee insurance; then you’ll need to consider the following points.
- How much are you entitled to claim in a year?
- What is the excess fee when claiming?
- What are the exclusions from your policy?
- Has your tenant been referenced – and could this affect your policy conditions?
Policies and the Pandemic
It’s also important to note that fewer and fewer policies are paying out for COVID-related claims. So it is absolutely vital that you understand exactly what is covered and what isn’t.
A Stress-Free Rent Guarantee Option
You might be relieved to find out that the Choices landlord rent guarantee offers you a far simpler solution. This exclusive service guarantees to pay your rent for up to a year if your tenant doesn’t and covers any issues relating to the pandemic. Not only this; but it also contributes towards legal expenses if needed and all without the need to take out insurance
ARO: The Advanced Rent Option by Choices
This increasingly popular choice, known as ‘The Advanced Rent Option’ is currently unique to the industry; offering landlords across the U.K and Wales both stability and peace of mind.
Here to help you make the right choices
Choices pride themselves on providing benefits to both landlords and agents that we believe supersede the conventional approach. Choices are a people’s business. Our customers have always remained at the heart of what we do – and client satisfaction is our primary focus. Feel free to take a look at our propositions for home sales, lettings and property investment and decide for yourself!