Are you a Landlord without rent and legal protection?
In this short article we explain what Rent and Legal Protection is and why Landlords need it in the current economic environment.
As a landlord, it is important to understand the risks and challenges that come with renting out a property. One of the biggest challenges that landlords face is the possibility of tenants not paying rent or causing damage to the property. That's why it's crucial for landlords to have rent and legal protection in place to protect their investment.
Rent protection is a type of insurance that covers the cost of rent if a tenant is unable to pay. This can be especially important in times of economic uncertainty, when tenants may be struggling financially. Rent protection can help ensure that landlords continue to receive rental income, even if a tenant is unable to pay.
Legal protection, on the other hand, can help landlords protect their property from damage or other issues that may arise during a tenancy. This can include legal fees associated with evictions, as well as the cost of repairing any damage caused by tenants. Legal protection can also help landlords navigate complex legal issues related to renting out a property.
Having both rent and legal protection in place can give landlords peace of mind, knowing that they have a safety net in place in case something goes wrong. It can also make renting out a property a more attractive option, as it reduces the risks associated with being a landlord. When choosing rent and legal protection, it's important to carefully consider the options available and choose a policy that meets your specific needs. Look for policies that offer comprehensive coverage and a reasonable deductible, and be sure to read the fine print carefully to understand what is covered and what is not.
Ultimately, having rent and legal protection is an important part of being a responsible landlord. By investing in these types of policies, landlords can protect their investment and ensure that their property remains a source of income for years to come.
At ElliotLee we ensure all our tenants meet the suitability criteria to enable us to provide the most comprehensive protection available. This ensures all of our Landlords have the opportunity to secure their tenancies with the peace of mind that they will not be hit with any unexpected unpaid rent or legal costs
You can find out more about our Rent & Legal Protection HERE which includes a FREE GUIDE.
If you are a landlord that has experienced the pain and cost of a tenant that has fallen into rent arrears without any protection and had to then evict them you will already know the benefits. However we are happy to go through, in detail, the advantages of Rent and Legal Protection including void period payments.
Feel free to get in touch using the 'contact us' form or you can reach out directly to our Lettings Manager preyen.patel@elliotlee.co.uk for more information
