Business as (New) Normal
We have been busy out and about organising viewings, both by video link and in person, where the property is vacant and it is entirely safe and permissible to do so. We have also started to include floor plans in our advertising and these have been well received. By thinking and planning ahead we have been able to continue to move tenants both in and out of property, always adhering to all the guidance and protocols. By doing so we have been able to continue offering the same high level of service that we know you expect from us.
Sadly, for quite some time, we will all face a very different world and there is still a lot of uncertainty around peoples future incomes. We believe that this makes the need for Rent Guarantee and Legal Cover for our landlords even more critical. By having this in place, we can be sure that you are fully protected should the worst happen and we need to pursue a tenant for either arrears, possession, or both! This is a service which we have always provided, it is part of your contract with us and there is NO additional cost to you for it, it is now and always has been, part of our management service. Our insurance provider has been keeping us very well informed throughout this uncertain time and, unlike many similar companies, they are still renewing cover for existing policies and, and perhaps more importantly, able to provide new policies for any new tenancies. Now, more than ever, we are very pleased to have them on our team!
To summarise, the policy that we provide to you ensures that you are covered for all of the following:
Rent indemnity and repossession – Should a landlord claim under their contractual guarantee for non-payment of rent, our policy is designed to pay you the costs
Legal expenses cover in case you need to evict a tenant who has fallen into rental arrears or has overstayed a Section 21 Notice
Property damage – Should a landlord claim under the contractual guarantee for property damage caused by their tenant, our insurance offers legal assistance to recover costs over £1,000
50% of rent after vacant possession – Following a successful claim for legal assistance with repossession, we can offer 50% of the rent for two months while you are actively advertising the property
At the moment, Government guidance has meant that we are having to deal with rent arrears differently, we have to allow more time for tenants to catch up and in many cases, agree a repayment plan with them, rather than just issue proceedings as soon as they fall into arrears. All court action regarding any possession hearing has now been postponed until the end of August at the soonest. Going forward we expect the courts to be extremely busy and under pressure, having a team of professional advisors to guide us through the minefield of red tape, changed procedure and timescales is extremely reassuring as we can be very sure of our ground and know that we are doing the right thing for everyone. It would be so easy to trip up and make a very costly mistake without this cover in place.