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Rent Guarantee

Providing you have done your tenant screening and verifying properly you shouldn't have problems with rent payments.

However, even the best tenants can sometimes have difficulty paying their rent through no fault of their own - if they fall ill, or they are made redundant.

In this situation you could have quite a long period without rent. If you are heavily mortgaged this is likely to put you under extreme financial pressure.

It may also be the case that you need to evict your tenant and spend money on legal fees to recover lost rent. Councils will not re-house your tenants if they leave voluntarily, so your tenant/s will be advised to stay put until evicted, even if they cannot pay rent.

Possession and eviction proceedings can take months, so in the meantime you may have no rent, you have the added expense of legal costs and, when you do eventually get possession, you may find there's damage to your property - all this can run to a lot of expense.

We offer Rent Guarantee to protect yourself from this sort of disaster. It's especially important for landlords with only one or two properties which are heavily mortgaged - where your investment would be at risk if you cannot keep up your mortgage payments. If you have a portfolio of properties your risks are spread and therefore rent guarantee is less important to you.

Rent guarantee is relatively inexpensive, usually amounting to no more than about 5 to 7% of the rental amount.

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