Landlord Rent & Legal Protection Insurance

Rent Protection

Landlords with a large property portfolio or an individual letting their own home due to work commitments or personal reasons should ensure that their income from their investment is protected and is sustainable for the duration of the tenancy. A specialist insurance policy for residential property which covers landlords for loss of rent and legal expenses can be taken out.

Why Take Out Rent Protection Insurance?

Tenants can sometimes fall in to areas for many different reasons despite having glowing references carried out by professional referencing companies. Rent protection insurance is essential in the current market. The credit crunch, rising unemployment and the subsequent recession are factors that are likely to increase the probability of landlords struggling to maintain their buy-to-let mortgage from tenants defaulting on their payments.

Rent and Legal Protection policies are designed to cover landlords against all possible rent arrears until possession is obtained. It also provides for Legal Expenses as a result of a tenant breaching the tenancy agreement, or unauthorised occupation of the property.

However scrupulous the vetting of prospective tenants is, there is still a risk even the most commendable individuals will be unable to pay the rent, this can often be due to unemployment, sickness or marital break-up. Rent and Legal Protection insurance cover is designed to provide Landlords with peace of mind and assist on protecting the landlord when required.

How Can I Help Protect My Rental Income?

The three main areas landlords and agents should consider are; tenant assessment for instances full professional tenant referencing, rent protection and legal expenses in the event of a tenant defaulting on rental payments.

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