The Landlord Hub today announced the launch of a new market leading Rent Guarantee insurance policy developed specifically for landlord clients of Martin & Co.
Heidi Shackell, Commercial Director at The Landlord Hub, commented “Martin & Co approached us with a request for a rent guarantee policy that set them apart from their competitors on the market, in terms of the protection afforded to the landlord, but at a very competitive price. It was a tall order, particularly when Martin & Co requested that the policy was sold directly to landlords so that they have the peace of mind that the insurance cover is in the landlord’s name”.
Research from the specialist team at The Landlord Hub, in Peterborough, demonstrated that many rent guarantee products on the market aren’t actually insurance contracts at all and don’t offer the landlord the legal protection of being a regulated insurance sale. The Landlord Hub developed their rent guarantee to ensure that the policy was fully compliant with insurance selling regulations and that the policy was portable – if a landlord moved from one letting agent or if one tenancy ended and another commenced.
Shackell commented “The majority of rent guarantee policies only cover the landlord if the tenant fails to pay rent whereas the policy we built for Martin & Co covers all breaches of the tenancy with the exception of anti-social behavior. In addition, the policy covers rents up to £8000 a month. When designing the policy we reviewed all the reasons why landlords might need to claim to ensure that all aspects were covered”.
The policy includes repossession of the property, payment of rent arrears of up to 12 months whilst the tenant still occupies the property and a payment after vacant possession if property is damaged and needs repairing and is therefore not able to be re-let. Additionally, the Martin & Co policy can offer landlords the peace of mind of having squatters evicted free of charge.
This is just one of the innovations which The Landlord Hub has offered Martin & Co franchisees. The Landlord Hub also provides a free legal eviction with every comprehensive reference if a tenant who was approved by The Landlord Hub subsequently defaults on the rent. The Landlord Hub can also monitor every approved tenant’s credit status in real time throughout the tenancy and warn the Martin & Co franchisee, who in turn can warn the landlord, if anything adverse comes to light. This is a lettings industry first – and particularly reassuring for landlords in these straightened economic times.
Shackell added “We know of no policy on the market that offers all of these benefits for landlords than ‘The Martin & Co Rent Guarantee’ product. It’s also less expensive than inferior so called “rent guarantee” cover which is currently provided only as a warranty by a letting agent. If you are a landlord wouldn’t you want to know that the insurance you have bought provides you with comprehensive cover protection and that you had an actual policy document in your safe-keeping should you ever need to claim? We have a team at the Landlord Hub recruited especially to support landlords and answer any of their questions about this new policy”.
Rent guarantee is just one of a range of landlord solutions and services The Landlord Hub offers to Martin & Co. For more information, contact The Landlord Hub team on 01733 396001 or email the team on firstname.lastname@example.org.
The Landlord Hub is a limited company based in Peterborough providing services for the franchisees of Martin & Co UK Ltd.
Martin & Co is a franchise group specialising in residential lettings and sales, it currently manages 30,000 properties across the UK.