Guaranteed Rent

Why guarantee your tenant's rent?
Renting your property out is a difficult job, you have a mortgage to pay, bills to pay on the property, tax to pay and the dreaded maintenance costs too.  It is a fine line between success and failure and if your tenants’ circumstances change and the rent stops you have to dib into your hard-earned money to subsidize the property.  Kembles Estates actively manage our tenancies thus minimizing this risk to our landlords, but the risk still exists.  As a landlord you have to weigh up the options and minimize risk as much as possible, using a proactive agency like Kembles Estates is a good start.

Sometimes, despite the most thorough vetting a tenant’s circumstances change.  In the current financial climate people are being made redundant, losing their jobs and they are no longer able to afford the rent arrears are rising and evictions cost a fortune.  This is where rent guarantee insurance with legal cover comes through for you. 

All our tenants are fully referenced to a very high standard.  We complete our own reference checks in house, as well as using leading agencies such as “Vouch” referencing platform.  Because we put so much into their referencing we are able to offer rent guarantee insurance.  

What does this mean to you, the landlord?

This means that as soon as a tenant falls into 1 month of arrears we inform the insurance company, the insurers formally take over chasing the tenant for the rent.  Missed rent payments are made by the insurance company from month 2, making 100% of the rental payments through us to you so you still get your monthly payment, less our commission of course.  They will see the tenant through to normality once they are working or evict them, giving you back vacant possession.  That is what you call peace of mind. 

For new tenancies, an acceptable reference is required for each tenant named on the tenancy agreement.  Further acceptability criteria is detailed in the policy documents which we will review and ensure compliance.

Existing Tenancies can put in place this service at any time, providing the tenant is not currently in arrears or the tenant has not been in arrears for more than 14 days in the last 90 days, as long as you are not aware of any existing circumstances which could give rise to a claim and there is a detailed inventory in place.  

If the property has been damaged, the policy will pay 75% of the monthly rent for up to 3 months after vacant possession has been obtained to get it back to a re-lettable state.

All legal costs associated with eviction (mediation, service of notices, bailiffs, lock smiths, court costs) etc are covered up to £100,000.

What's more is there is NIL excess.

This service is offered in our Platinum Full Managed Service.

For your peace of mind.

Contact us on 01302 954495 for full details.

All our guaranteed rent products are insurance backed and subject to your tenants passing referencing through the relevant referencing checks.