What’s the number 1 way to protect yourself against tenant arrears? Recent research undertaken on behalf of the UK government has indicated that landlords who choose to manage their property themselves are 272.5% more likely to be two months in rent arrears. The answer therefore would seem (at least in part) to be ‘professional property management’.
But even under the best management; rent arrears can still occur. Especially in the current climate (and often through no fault of the tenant). So how best to truly protect yourself?
Rent guarantee insurance?
There are pros and cons to this. You’ll need to think carefully, do your research – and make an informed decision. This article should help.
A simple, stress-free alternative to rent guarantee insurance
If you are concerned about having tenants in arrears; 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 covers up to £1000+vat of legal costs (and ARO goes to court on behalf of the landlord with assistance from a solicitor so costs rarely go above this); 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.
Would you like the security of a full year’s rent in advance? Find out more about the full benefits here and calculate what you could get.
Here to help you make the right choices
Choices proudly ranks in the Simply Business Property100: the top influencers in the UK property world and is founded by Simon Shinerock; one of the most forthright and prominent figures in the property industry. See what he has to say here, and don’t hesitate to get in touch if you have any questions about our top-rated service. Want to work with us? We’re always on the look-out for new talent. Find out how to get in touch here.
