This page is specifically for landlords that manage their properties themselves.
You have until Fri 3rd April ’20 to request cover!
The threat of the Coronavirus pandemic is real and is affecting the worldwide economy. The potential effects in the UK could be disastrous, especially for landlords who are reliant on rent from their tenants.
Whilst the Government have suggested ‘mortgage breaks’ for homeowners, they have not made it clear what happens after the initial 3 months mortgage payment breaks, making it more important than ever to make sure your rent is protected.
Debt is a reality in every type of business but unlike almost any other service provider, landlords are unable to terminate a contract with their tenant if payment is not received. We have seen an increase in arrears and claims through circumstances which nobody could have predicted. The crash of FlyBe just a few days ago shows that we never know what is round the corner.
Only a court may end a tenancy agreement on the basis of non-payment and we now see in the press that court hearings are being suspended due to the increased risk from Covid-19.
- What would happen if your tenant couldn’t pay the rent?
- Could you afford your mortgage commitments?
- Could you afford essential repairs and maintenance?
- Could you afford the £1500 + legal costs to start the eviction process?
All rhetorical questions, but here at Belvoir we have made sure that you do not have to be exposed to these risks.
Whilst all insurers have quickly pulled the plug on Coronavirus (Covid 19) cover, we have managed to secure a policy with this cover in place!
But only for a very short time before they close the doors, even to us.
The Belvoir Rent Guarantee is now available to you, for a limited time only. This service provides:
- 100% rent protection on a zero excess basis
- Rent payable until possession is obtained with no time limit
- Legal costs included to re-gain possession of the property as a result of a tenancy breach
- Total payment limit of £50,000
- Professional court attendance on your behalf by both us as your agent and a professional advocate
Handle the claim yourself or you can choose us to do this for you which includes liaising with insurers and processing your paperwork etc. So if your tenant can’t pay, we will ensure you still receive your rent and can meet your own commitments.
The opportunity to set up protection mid-tenancy is extremely unusual and we are only able to offer this as a one-off.
How much is the policy?
The annual cost of cover is £240 inc vat
Never have the risks been so great for tenants not paying their rent. Please don’t expose yourself to this risk.Phil Pinkney – Belvoir Andover Director
Important – Please Read
If you require cover, you have until 2pm today (Friday 27th March 2020) before the option of cover is removed.