Rent guarantee insurance for landlords is essential in today's letting environment where the law strongly favours the tenant. With so many people losing livelihoods because of the uncertain economic situation the country (and the world) has been in over the last few years, even the best, most decent tenants can suddenly become a huge liability.
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Switched on private landlords usually look to increase the rent amount their tenant is paying by a small increment at every opportunity. This is not as straightforward as it seems. Tenants can dispute rent increases and even have the rent reduced! Let's take a look at the process first.
All deposits paid by tenants to landlords (or their letting agents) for Assured Shorthold Tenancies issued after the 6th April 2007 must be 'protected' by one of 3 government-approved deposit protection schemes. The act of protection differs from scheme to scheme and involves the landlord or agent either handing the deposit money over to the scheme to look after, or paying a fee (as either a payment per deposit or an annual subscription) to the scheme and keeping the deposit themselves in a segregated bank account that is used for no other purpose than holding tenant's deposits. We are members of both an insurance-based scheme and a custodial scheme and based on our own experience we would pick the insurance-based option every time, as getting money back out of the custodial scheme can be a painful process, even under the most clear-cut circumstances.
You probably know everything that we're putting in this article, but it never hurts to be reminded. In no particular order you should do everything on the list below before your tenant signs a tenancy agreement and moves in.
Visum continue to grow their advertising network to ensure maximum exposure for our lettings and sales property adverts - now advertising on Needaproperty
Having to evict a tenant is every landlord's worst nightmare; it's both stressful and costly. With help from us you can remove much of this stress and cost! It is very important that each step is done in the right order and the right way. With Visum in your corner you will get it right first time. The first procedure is to ensure you serve the correct notice in the correct way on the correct date to the tenant(s). If you get this wrong all your effort will be wasted, as your claim will be simply thrown out of court. If your tenant has an assured shorthold tenancy then your eviction notice (properly called a 'notice seeking possession') will generally either be a Section 8 notice or a Section 21 notice.