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Belvoir Rent Guarantee Service
Rent arrear statistics:
In December 2015, debt advice charity the Money Advice Trust warned that rent arrears is the fastest-growing problem it is seeing. The charity previously received 20,000 calls between January 2015 and October 2015 from tenants behind with their rent. In 2008, the figure was 8,000.
It has been estimated that in excess of 2.2% of tenants are currently in arrears with rent payments.
Despite these statistics, according to The National Landlords Association, 9 out of every 10 landlords make no allowance for non-payment of rent.
The cost of arrears to a landlord:
Costs associated with this issue can be significant. A tenant needs to be 2 months in arrears before proceedings may even be started. Legal fees, court-costs, bailiff fees and lost rent can easily amount to the equivalent of 6 months rent. With all the other financial pressures currently being exerted on private landlords, it can take a number of years for an investment to fully recover from a blow of this magnitude.
How Belvoir can protect you:
Belvoir, in partnership with specialist insurance provider, Let Alliance, has designed a solution specifically for our landlords which offers comprehensive peace of mind:
The Belvoir Rent Guarantee Service includes:
- Nil excess with rent paid from the point of first arrears.
- Legal costs to obtain possession of the property if the tenant fails to pay the rent.
- Full rent protection, for up to 4 tenants.
- Total claims up to £50,000.
- Breaches of the tenancy agreement by the tenant, in respect of non-payment of rent and expired section 21 notices.
- Court attendance where required.
- Continuous cover even when the tenants change.
For more details or to discuss your specific requirements, please call 01256 830800 or email firstname.lastname@example.org