RENT GUARANTEE AND LEGAL PROTECTION
The “cost of living crisis” is affecting us all and looks likely to be with us during 2023. We are, however, hopeful that inflation will decrease during Q2 and Q3 2023. With the increasing cost of mortgages, a reality in the medium term, the impact if your tenant is not able to pay the rent is a genuine concern. Now is a good time to consider investing in a “Rent Guarantee and Legal Protection” service if you do not already have one in place. Whilst there is a cost attached to this, it will ensure your rent gets paid as well as any legal costs, if there needs to be an eviction. So, if the worst happens, you are still able to meet your commitments.
The service has been competitively priced (as detailed below) and can be started mid-tenancy as long as the tenant has not been in arrears in the last 3 months and there is an inventory in place.
- Rents up to and including £700pcm – £200 per year or £18 per month plus VAT
- Rents of £701 to £2000pcm - £250 or £22 per month plus VAT
- Rents of £2001 to £2500pcm - £360 or £33 per month plus VAT
For advice or information on Rent Guarantee and Legal Protection or for professional advice about letting and managing your property, please contact your local Frost Partnership office.
*Nothing above constitutes financial advice, always speak to a qualified broker.
Contact your local Frost office to find out more.