Landlords Legal Expenses
This is Legal Expenses product that will cover the landlord’s costs of disputes between themselves and their tenant(s).
Whether you have a large portfolio or a single investment Landlords Legal Expenses Insurance enables you to pursue and defend your legal rights. With the added option to guarantee your rental income this insurance cover can give you financial peace of mind when you need it most.
Cover provided usually includes the following features: –
- Breach of Tenancy Agreement
- Pursuit of Rent Arrears
- Legal Defence
- Legal Advice & Assistance
- Optional Rent Guarantee Cover
- Tax, VAT, PAYE & NIC Investigations
Rent Guarantee Cover
In case your tenants fail to pay the rent, it can be a good idea to take out rent guarantee insurance. This could occur for various reasons, including redundancy or the inability to work as a result of injury or sickness.
Should you be unfortunate enough to have unreliable tenants, you may need to go through lengthy legal proceedings to get possession of the property through eviction.
Rent guarantee cover is relatively inexpensive and allows you to lessen any financial losses if this were to happen which could be substantial if you are making mortgage payments on the property.
You should note before purchasing cover, it is usually a requirement of this type of insurance that the policy holder carries out references checks before the tenants move into the property. In the event of a claim, the responsibility lies with the insured to present the referencing documents as the insurer will want to be sure that proper checks were carried out on the tenants.