Rent Guarantee Insurance protects landlords in the event that their tenants do not pay their rent. It is often a cheap, effective way of protecting your profits from legal costs relating to evictions and missed rent payments. Landlords continue to inform us rent arrears is their greatest worry, followed closely by the hassle and cost of the eviction process. Yes, there are your standard policies but these tend to come with high excess levels, limited payment periods and if your insurance claim is successful, the rent will only be paid in arrears.
So at ProBuyToLet we thought we would introduce you to the most innovative service currently available… “Rent on Time”.
With Rent on Time you will have complete peace of mind that your rental income will be Guaranteed on the day you expect it, regardless of whether the tenant has paid or not! Sounds too good to be true… well please fill in our short form to find out more.
Guarantee Your Rent Now
Rent on Time Ltd are members of The National Approved Letting Scheme (NALS) Licence No. A3215, Tenancy Deposit Scheme (TDS), and The Property Ombudsman. Rent on Time hold NALS Client Money Protection Insurance and are a registered “SAFEagent” (SAFEagent Registration No is S2467.)
* All fees exclusive of VAT
Rent on Time IS different to the cheapest rent guarantee insurance which may not protect you in the way you would hope.
If rent is missed or late Rent on Time will guarantee to pay the landlord the rent on the day it is expected. There is no need to claim, no need to wait for your money and no excess!!
Make Rent on Time your MUST HAVE service if you never want rent arrears again:
Rent on Time service includes:
- Collection of rent from the tenant
- If rent is missed or late, relax as Rent on Time deal with the arrears procedure
- Rent on Time GUARANTEES rent payments to landlords on time… every time!
- Rent paid until Vacant Possession attained (even if the tenancy agreement ends)
- 100% Rental Cash Flow!
- £25,000 FREE Legal Expenses cover provided in relation to eviction procedures
- If the worst happens, then court proceedings & eviction paid for and dealt with
- Rent on Time provide you with the Assured Shorthold Tenancy Agreement (AST)
- HMO Properties & Students Accepted (no DSS though)
- Rent on Time perform the full Tenant Credit/Employment Reference Checks
- Rent on Time manage/register the deposit with the Government backed TDS
- Rent on Time send e-mail statements to landlords for each rental payment
Rent on Time is available for new and existing tenants! Rent on Time has a solution for the majority of tenant types i.e. professionally employed tenants, self-employed, students, independent means and HMOs.
All this for just 6% of the monthly rent plus a £100 New Tenancy Admin Fee*.
With the current economic climate being relatively unstable and the unemployment rate extremely high, why take the chance of rent arrears and the accumulative potential loss of rent as well as evictions costs? Rent on Time can remove all your worries and even allow you the confidence to potentially purchase more rental properties.
Don’t settle for anything less than Rent on Time. You might pay less for an insurance policy but it will come with its limitations.
What is Rent Guarantee
Rent guarantee insurance UK provided protection for landlords from their tenants defaulting on their rent. It’s important because a huge number of landlord possessions are due simply to them not being able to cover the mortgage during periods of tenant default or suffering from a vacant property following evicting a tenant. Sometimes there is the need to go to court to deal with legal expenses and you will want to ensure that your rent insurance covers you for that entire process including any damage a disgruntled tenant may cause.
Buy-Let Rent Guarantee Insurance Explained
The landlords most at risk from their tenants not paying are those who have a buy to let mortgage. They take rent guarantee cover for landlords because it protects them from having to pay their mortgage in full in the event their tenants are unable to pay them. Rent guarantee legal protection is also an important factor as it reduces liability in the even that eviction doesn’t go smoothly or other issues arise following attempts to enforce payment of the rent. For most landlords it is worth getting rent guarantee insurance for this reason alone.
Best Rent Guarantee Landlords Insurance Cost, Comparison & Reviews
It’s important to establish the cost of the policy but to also compare it to significantly more flexible and powerful products such as Rent on Time. This product ensures that your rent is paid on time without any need to claim or wait for an exclusion period to expire. This can be crucial for landlords as months of delays and legal bills which have to be claimed back later can outweigh the reasons they should get rent guarantee insurance in the first place. Rent on Time offers a simpler, and sometimes much more efficient solution.