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Why Do I Need Rent Guarantee?

Rent Guarantee Insurance becomes even more appealing

As unemployment figures surge and the recession showing no foreseeable end, it is not surprising that the number of Rent Guarantee Insurance claims are rocketing. However, here at Leaseguard we have not been feeling the brunt of such claims.

Looking at the service we offer to our Letting Agents and Landlords we have come to the conclusion that this could be credited to the thorough Tenant Referencing Checks we carry out.

The Referencing Team here at Leaseguard use the most up-to-date information to assess Tenants and explore a number of sources before providing a detailed final report.

Tenant Reference Checks can be carried quickly and easily and are vital for a happier and easier life as a Landlord!

So why do I need Rent Guarantee?

Even with all the relevant checks in place Landlords must remember that the Tenant's circumstances can change very quickly. In this time of economic uncertainty Rent Guarantee is a necessity. Tenant's financial woes can affect their ability to pay rent on time, with credit card debt being cited as a major culprit. As a knock on effect this can lead to the Landlord defaulting on their mortgage payments and the property being repossessed.

Not only that, but eviction is a costly affair and throughout the eviction period rent will not be being paid.

Using Tenant Referencing can look into a tenant's past, but it cannot predict the future. Therefore, in order for Landlords to fully protect their rental income they need to combine Tenant Referencing and Rent Guarantee Insurance, which we can do for you here at Leaseguard.

Posted By Admin on Wednesday, August 4, 2010 | Type: Blog