Property Let Legal Expenses & Rent Protection

The provider of our Legal Expenses & Rent Protection insurance is Rentshield Direct. The following is information provided by Rentshield Direct for your information.

Property Let Legal Expenses Insurance

With the buy-to-let market traditionally proving to be an attractive area of investment, many mortgage providers and household insurers have tailored their products to specifically suit the buy-to-let market. Rentshield Direct provides the perfect addition to those products. By reducing the impact of a legal dispute on the flow of rental income for landlords (who may rely on this to meet their mortgage repayments), this policy is a major benefit to both landlord and mortgage provider.

Risks faced by landlords

While it is vital that a landlord follows a strict referencing procedure, they may still find they have a tenant who doesn't look after the property, doesn't pay rent on time or doesn't pay the rent at all in some instances. Our product has been designed to resolve these problems and help the landlord repossess the property and pursue tenants for unpaid rent. The policy will also compensate for rent arrears while tenant or ex tenants remain in the property. Problems also occur that no-one can predict such as squatters and external damage to the property. We will help in taking the appropriate legal action in both of these circumstances.

How Rentshield Direct will help

For many tenancy disputes, we will be able to negotiate a full settlement of the landlord's claim.

However, if this is not possible, we will refer the matter to a lawyer for further action and we will pay legal costs of up to £50,000. Property Let also covers hotel expenses up to £150 a day, for a maximum of 30 days, and storage costs up to £10 a day for a maximum of 4 weeks.

The policy also provides access to a discounted tenant referencing service, and our 24-hour helpline service includes EuroLaw Legal Advice & UK Tax Advice, Domestic Assistance and Counselling Service.

The cover

The cover provided by this policy will help landlords who need legal or specialist assistance in the following areas.

Repossession

The tenant has remained in occupation even though the tenancy agreement has ended and notices have been served requesting them to vacate.

Property damage

Building work on a neighbour's roof causes damage to the landlord's property. Tenants have left the property but have ruined the curtains and damaged -, some fixtures and fittings.

Eviction of squatters

Someone has illegally taken possession of the property while it was left vacant.

Rent recovery

The tenant has disappeared while owing a large amount of rent. We can help find them and recover the money owed.

Legal defence

The landlord has received a court summons and faces criminal prosecution for failing to renew a property's Gas Safety Certificate.

Rent arrears

We will pay the rent arrears while the landlord's tenant or ex-tenant occupies the property.

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