IN THE NEWS: Arrears rising among tenants as the pandemic rears its head once again
There will be much more financial pressure on us all with the increasing costs of living we are all facing.
Food and energy bills are increasing significantly, with some people seeing up to a 50% increase due to the energy crisis, fuel prices are on the up, there is risk of redundancies following the withdrawal of the Furlough support scheme, changes to Universal credit will reduce income for 6 million families by 5%, and this year will see a rise in taxes that will impact everyone’s income.
Inflation is rising month on month, and had exceeded 5% in December 2021.
There are so many risks combining together, that make the need for Rent Guarantee insurance more important than ever. We want to protect our landlord’s income, and ensure this “safety net” will give peace of mind if the worst case should happen.
Please see what we have to offer below:
What do you get? (Last 4 bullet points are additional benefits outside the standard terms)
- 15 months of rent arrears paid – on rents up to £2,500pcm
- 75% of rent paid, for up to 3 months following vacant possession
- £100,000 legal expenses
- Eviction following expired Section 21
- Eviction following other breaches of the tenancy where you need to gain possession
- No COVID restrictions
- Defended Actions – if tenant defends the action we will continue to pay the arrears whilst this is dealt with
How to qualify?
- To qualify for a policy, there must have been no rent arrears on the tenancy in the last 6 months – arrears defined as rent paid more than 31 days late in the last 6 months
- Tenant has to have been referenced through Let Alliance and agreed
If you would like to discuss this further, please feel free to give Belvoir Leamington Spa a call on 01926 422251
