What would you do if your tenant stops paying rent?
Even honest and reliable tenants can fall into financial difficulty … loss of job, breakdown in relationships and other changes in circumstances can cause a tenant to default on their rent.
Ministry of Justice figures state that it takes on average 298 days (42.6 weeks) to gain possession of a property when evicting a tenant. With the average UK rent at £965 a month and the standard legal fees to evict a tenant including court fees around £1,156, the lost rent and legal expenses associated with an eviction can cost as much as £10,630!*
What can Rent Guarantee offer you?
Complete peace of mind for landlords. Relax in the knowledge that your rent is protected, and you will not be out of pocket.
Contact us today for more information.
*Average monthly rent as published in the July 2020 Rentshield Direct Rental Index. Ministry of Justice possession statistics state that it takes an average of 298 days (42.6 weeks) between issuing a claim and gaining a possession of a property (correct as of October 2019.) Average eviction time based on statistics held by Barbon Insurance Group and correct as of January 2020.