There is no legal requirement for the product, although it is highly advisable if you rely on the rental income.

If your tenant stops paying their rent but remains in your property you will need to submit a claim. We will then instruct our appointed solicitors on your behalf to review your case. Upon approval of your claim our solicitors will help you gain possession of the property, and the policy will continue to make the rental payments that have not been paid by the tenant. These payments will continue for a maximum of 15 months, with up to three months’ worth of payments at 75% of the rental amount paid after eviction (while the property is empty).

If a tenant failed the tenant reference checks, they would be able to use a guarantor instead. However, a guarantor will have to complete and pass the reference checks and achieve a higher affordability factor to ensure the tenants right to rent.

If your tenant can’t get a guarantor, then you will be unable to purchase a policy as the acceptance criteria hasn’t been met.

Yes, guarantors will have to be credit checked by the policyholder to ensure they do not have any CCJs or bankruptcies outstanding or settled within the last three years.

Definitions of ‘bad credit rating’ vary, so for guarantors to be accepted you need to ensure they do not have any CCJs or bankruptcies outstanding or settled within the last three years.

If a tenant has not met the acceptance criteria and a guarantor is in place and the tenant defaults then the guarantor will be liable for the rent.

Yes, but this would need agreement from whoever the guarantor agreement is with. If a guarantor is removed the insurance policy may become invalid.

You must try speaking with your tenants first  and see if you can make an arrangement to repay the arrears. If this doesn’t work and they can’t/don’t pay, the following eviction notices must be served before you can claim:

• A Section 8 notice: also known as a notice to quit or possession notice. A Section 8 notice seeks possession of your property if the tenant won’t leave
• Ultimately, if your tenant(s) can’t pay, you can issue a Section 21 notice which ends the tenancy.

For more information about how to evict tenants, click here

Give us a call today, or click here to find out more and purchase rent guarantee insurance for your properties.

No, the policy is designed to pay rent while the tenant resides at the property (but is unable to pay rent). If they leave, there will be no cover for future rent due.

Yes, as long as you meet the acceptance criteria.

Under normal circumstance landlord insurance usually covers Loss of Rent following a claim under the main policy. However, if your tenants simply stop paying their rent then your landlord’s insurance will not cover this and you would need a separate legal expenses and rent guarantee insurance which would provide cover to evict the tenant and pay your rent during the process.

Yes, the insurance is based on the property. As long as the new tenant has passed referencing and there is a tenancy agreement in place then the insurance will be valid.

There is no legal requirement for the product, although it is highly advisable if you rely on the rental income.

You can cover up to 4 tenants per policy, if you wish to cover more than 4 please contact us. 

This is not possible.