PRLog.Org - Specialist Rent Guarantee Section now live

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           Specialist Rent Guarantee Section now live on the jml-property-insurance website

       By Philip Suter of jml-property-insurance.co.uk
       Dated: Oct 26, 2009

       Many UK landlords are very worried about tenants not being to pay their rent, despite the fact that they
       have properly referenced by credit search companies. They are now protecting their investment with Rental
       Guarantee Insurance

       As the rental market flourishes, unfortunately more and more landlords are finding that some tenants cannot
       pay their rents. The recession and higher unemployment is not helping and so many landlords are
       considering taking out a Rent Guarantee Insurance policy.

        These have been around for a number of years via providers like HomeLet and Letsure. Rent Guarantee
       Insurance will protect the landlord in the event that their tenant/s fails to pay the rent. Of course most
       landlords will do their best to ensure that they let their properties to the best possible tenants, but
       unfortunately it's a fact of life that events happen beyond their control.

        If a tenant falls behind on their rental payments it could have serious financial implications for the landlord
       especially if they have mortgage commitments or other financial income requirements on their property like
       a pension.

        In the first half of 2009 HomeLet paid out over £1.5 million in Rent Guarantee Claims and legal costs. It
       was significantly higher than in 2008 and reiterates the difficulties faced by both landlords and letting
       agents.

        Unemployment is rising at the fastest rate since records began in 1971 and economists are predicting that it
       could be up to five years after the recession ends before employment returns to stable levels. Taking this
       into account, it seems clear that rent arrears will only continue to rise as more and more tenants face
       difficulties in the job market.

        In the past week the National Landlords Association has launched the NLA Rent Guarantee Insurance and
       in September Letsure launched Rentsure Complete Rent guarantee insurance.

        Philip Suter of jml-property-insurance.co.uk said ”We had been marketing HomeLet, Endsleigh, Rentguard
       and Letsure rental guarantee products, however this new popular rent guarantee insurance was not very
       prominent on our sites so it has been given a complete classification of it’s own.

        Landlords are becoming more and more cautious and a lot of letting agents are now offering a Rent
       Guarantee package as part of their letting programme. A local firm of letting agents that I carry out
       consultancy work for has just introduced a “Management Plus” service. The service includes Guaranteed
       Rent, £25,000 Legal cover for eviction of tenants following non=payment of rent, court costs and 50% of
       rent paid for up to 2 months after possession whilst the property is being re-marketed.”

        Philip went on to say ”we have several other landlord insurance providers who advertise on our sites, who
       do not offer Rent Guarantee yet, however the trend must be changing. One of these companies has just
       launched a specialist website to promote their guarantee product within the last 48 hours and this product
       will shortly be added to those we act as introduction agents for.”

        For further information please visit http://


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www.jml-property-insurance.co.uk/Landlords_Rent_Guarantee_insurance.htm

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Company Information
 jml-property-Insurance.co.uk is part of jml Property Services, the trading name of Jeffrey Milner Ltd. The
company is an UK based company that was established in 1979. jml insurance acts as an introducer for
insurance companies selling property insurance including landlord and tenant rental products, pet insurance,
wedding insurance, motor insurance, car hire excess insurance, travel insurance and non standard insurance
products. They also operate jmlvillas.com an online marketing service for owners of holiday home property
to advertise and are part of the jml Group that includes jml Training and Consultancy

Category           Real Estate, Insurance, Consumer
Tags               rental guarantee insurance, tenant, landlord, rentarrears, unemployment, recession, legal cover,
eviction
Email              Click to email author
Phone              0044326754
Address            PO Box 80
City/Town          Princes Risborough
State/Province     Buckinghamshire
Zip                HP27 0WA
Country            United Kingdom




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