Rent Guarantee Service
As a landlord, keeping your property and rental income secure is important. But dealing with tenant issues like missed rent payments, property damage, or legal troubles can be stressful and expensive.
That’s why we've created the Rent Guarantee Service to protect your investment and give you peace of mind. For just £32 per month + VAT (£40), that’s just £1.05 +VAT (£1.31) per day, you can protect yourself from the unexpected costs and risks associated with being a landlord.
Another thing to consider is the Renters' Rights Bill that will be coming in during 2025. Learn more about the renters rights bill ↗
Whats included
- £100,000 in Legal Expenses: We cover the cost if you need to evict a tenant.
- Rent Arrears Protection: Up to 6 weeks’ rent if tenants fall behind, while we find a new one.
- Tenant Damage Protection: Up to £250 to cover damage beyond the deposit.
- Legal Help: We’ll help recover money for unpaid rent or damages.
Frequently Asked Questions
1. What is Rent Protection Insurance?
It’s a policy that protects landlords from unpaid rent. If a tenant stops paying, the insurance covers the rent until the landlord regains possession of the property.
2. How does it work?
If rent isn’t paid, the Rent Guarantee Service will cover payments, and handle the eviction process if needed.
3. Who can get Rent Protection Insurance?
Landlords and letting agents, as long, as the tenant passes referencing checks (credit, income, and rental history).
4. Can I get cover for an existing tenancy?
Usually, it’s for new tenancies, but existing tenancies may qualify under certain conditions.
5. What does the policy cover?
- Rent Protection
Covers unpaid rent until vacant possession is achieved. - Rent Recovery
Our providor pursues tenants to recover outstanding rent. - Eviction of Tenants or Squatters
Manages legal proceedings to evict tenants in breach of their agreement or squatters. - Property Damage
Legal cover to pursue tenants for property damage exceeding £1,000, plus up to £250 for damages beyond the deposit amount. - £100,000 Limit of Indemnity
The total payable amount per claim. - Contract Disputes
Covers costs for disputes with parties having direct contractual relationships. - Alternative Accommodation and Storage Costs
Covers up to 30 days of accommodation and storage if the landlord needs to move back in after gaining vacant possession.
6. How do I make a claim?
Coppenwall Estate Agents will trigger the claim once the rent is overdue by 14 days – they handle the process for you.
7. How long until I get paid?
Once approved, payments are usually made within three working days.
8. How much does it cost?
The Rent Guarantee Service is £40 (32+VAT) per month, and will be taken out of the monthly rent. Discount is available for a yearly policy.
9. Does it cover eviction costs?
Yes, the policy includes legal fees to remove non-paying tenants or squatters.
10. What if I don’t have Rent Protection Insurance?
You’d need to cover the lost rent yourself and handle legal proceedings if needed.
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Enquiry Form
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