Rent Guarantee Insurance
Navigating the Renters' Rights Act as a Landlord
The Renters’ Rights Act brings significant changes to the UK rental market, including the abolition of Section 21 ‘no fault’ evictions. For landlords, this means greater tenant security but also new risks to manage.
One way to help protect yourself is with Rent Guarantee and Legal Expenses cover – designed specifically for landlords navigating these changes.
A brief synopsis from our Rent Protection provider First2Protect below…
Here's what's included:
01 – Financial protection
If a tenant stops paying rent, the cover helps ensure you continue to receive rental income – helping you meet mortgage repayments and keep up with property maintenance costs.
02 – Risk mitigation
The Renters’ Rights Act is likely to mean tenants stay in properties for longer, making it more important than ever to have cover in place. Rent Guarantee cover protects you from financial pressure if a tenant fails to pay, so you are not left exposed.
03 – Legal support
Legal expenses cover for eviction proceedings is included. With stronger tenant protections now in place, having access to legal support may make a significant difference when disputes arise.
04 – Peace of mind
Knowing your rental income is protected allows you to focus on managing your property and maintaining a good relationship with your tenants.
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Is this cover right for you?
Whether a Tenant Reference is required depends on your tenancy situation.
No Tenant Reference is needed if:
- The tenancy has been in place for more than 12 months at the start of the policy, and
- There is no history of rent arrears (including any payment made one or more calendar days after the due date set out in the Tenancy Agreement)
A Tenant Reference is required if the above conditions are not met. This must include:
- A credit check from a licensed credit referencing agency, showing no County Court Judgments in the past three years and no outstanding County Court Judgments
- A written reference from a previous managing agent or landlord
- A written employer’s reference on company headed paper, confirming the tenant is in permanent employment and that their salary is at least 2.5 times the monthly rent
This is a summary of the key eligibility criteria. Full terms and conditions apply.
This link will take you to an external website not operated by 3mc. We provide this link for your convenience, but we do not control, endorse, or take responsibility for the content, accuracy, or privacy practices of the linked site. Please review third-party site’s terms and privacy policy, as they may differ from ours.
Simply provide a few details about the type of mortgage you’re after and one of our team will contact you to discuss further.