UK Landlord Forum / Life

Hello

Do you guys use a rent guarantee scheme. how do they work?

have you had need to claim and if so was the process worth it?

Is there anything else I should think about?

Thanks

Hello Colour,

I use them uness I'm getting paid from a AAA source.  They provide a substitute rent for a few months (about the time it would take to get non-paying tenante legally evicted).  They tend not to cover the first month's missed rent, as they assume this will be taken from the deposit.

This is one aspect I don't like about Rent Guarantee.  Once the teanant misses a pament they know they are going to wave good bye to most / all of their deposit and so the motivation to look after things properly and avoid damage is reduced.  I'd be happy to pay more to get that extra month's cover.  Anyway...

They will often pay for legal eviction fees and similar costs.  The cover is dependent on a check of the tenants by the insurer.

I've been luck and not needed to claim, so I'm sorry but I can't share any experiences with you here.

Thanks Jeremy