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Landlords Legal Expenses Insurance
Landlords legal expenses insurance can cover a number of situations such as recovery of rent arrears, recovering costs associated with malicious damage, or neglect by tenant. In addition they can be used to cover legal expenses involved in evicting problem tenants or occupants illegally on the property.
Stand alone legal expenses cover does not provide a rent guarantee. Should you require a rent guarantee insurance policy, this will incur additional costs, and you will have to reference the tenant using a tenant referencing service.
Landlords Legal Expenses with Rent Guarantee
To claim on our landlords rent guarantee insurance you will need the following:-
- A signed tenancy agreement.
- Two forms of identification from the tenant, one of which must contain a clear photograph.
- Proof of the tenants employment.
- A credit check.
- A full tenant reference performed by an approved referencing company.
In addition to qualify for the landlords rental guarantee policy you must agree to the following:-
- Each tenant will be referenced by a licensed tenant referencing service.
- If the tenant requires a guarantor or surety then the guarantor must be referenced by an approved tenant reference service.
- The tenant must sign a short-hold assured tenancy agreement before the property can be occupied.
- You must collect one months rent in advance and a dilapidation deposit before the property can be occupied by the tenant.
- You must keep a record of all rent due and all rent paid.
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