Landlord Rent Guarantee
As a landlord there is often the worry that a tenant may fall behind in rent payments. Would you be able to still meet your financial obligations if they do? Landlord rent guarantee can give you piece of mind and as a part of our management service, homes4u can provide a Rent Protection Service to all of our landlord clients.
As a part of this service we will;
- Guarantee your rent should the tenant default
- Carry out any required midterm adjustments to the protection
- Deal with the serving of section notices should we need to evict the tenant
- Complete all administration required in the event of a claim
- Attendance at court of your behalf
The cost to you the landlord for this service will be £240 inclusive of VAT
It can be organised at any time before the commencement of the tenancy which gives you the peace of mind of knowing that, whatever happens, your rent is guaranteed and legal expenses are covered should you ever be in the unfortunate situation of your Tenant going into arrears.
When Tenants can’t or won’t pay, you are protected. Not only from rent arrears but also from any Tenancy breach that provides grounds for possession.
What does our Rent Pro Service cover?
- Full rent guarantee for the total monthly rent, as listed in the Tenancy Agreement
- Rent payable until vacant possession is obtained
- Legal costs to obtain possession of the property if the tenant fails to pay the rent
- Total claims limit for legal expenses of £100,000
- Covers breaches of the tenancy agreement by the tenant, including non-payment of rent and expired section 21 notices
- Court attendance included as part of the service
- Policy is fully transferrable to ensure continuous cover even when the tenants change (subject to satisfactory references)
- Nil excess with rent paid from the point of the first arrears
- This covers all tenants in your property and can be transferred if you have new tenants after 6 months!
homes4u have a dedicated arrears team that will start chasing arrears within the first five days of a rent payment due date. If the Tenant has not paid the full rent due within 31 days of the rent due date, then the outstanding balance will be paid by homes4u to your account monthly in arrears via your ‘Rental Protection Service’.
Rent will be paid monthly in arrears until vacant possession is gained. Payments will be made subject to any deductions agreed in the Agency Agreement, such as our management charge.
We are able to offer this new service on exisiting applicable tenancies as well as when a new let is agreed. If you are an exisiting client or would like more information on our landlord services please contact your local homes4u branch.
South Manchester and Cheshire 0161 448 0090
City Centre and North Manchester 0161 236 0202