Too many landlords are ignoring the risks of high legal costs and lengthy evictions.
To try and ease this situation, Legal 4 Landlords are now offering all landlords who use their eviction services a free rent and legal expenses protection policy for their new tenancy, with the aim that this will help to safeguard their landlords against future losses of rental income.
The majority of evictions dealt with by Legal 4 Landlords are on the grounds of non-payment of rent. This non-payment of rent, together with the legal costs associated with the eviction (if uninsured) put a large strain on the landlords finances.
Sim Sekhon, of Legal 4 Landlords says: “After the eviction process is complete and the property is ready for a new tenant, landlords are sometimes reluctant to take out rent and legal expenses insurance in an attempt to cut back on costs. This is a worrying situation, and one which we have been working hard with our letting agent partners to provide a solution. As of 6th April 2015, we are now offering free rent and legal expenses insurance with our eviction services”
Non-payment of rent has become an increasingly common problem for many landlords in the UK’s private rental sector, causing serious cash flow issues and landlords can avoid the risk of defaulting tenants with 100% rental income protection.
It may be an impossible task to predict if a tenant will suddenly experience a change in circumstances, such as losing their job or suffering from a serious illness or accident which leaves them unable to work.
Our free rent protection insurance has been carefully designed with our letting agent partners to provide immediate peace of mind to their landlords. Partnering letting agents and landlords are urged to get in touch with Legal 4 Landlords for the full terms and conditions of this offer.
“We do of course still provide an entire range of great value rent protection policies which are available for landlords direct and via our letting agent partners”