You may recall the email and news articles that we sent back in November 2016, following on from Belvoir’s acquisitions of the Northwood and Newton Fallowell estate agencies.
Since then, our increased market share has enabled us to launch our Belvoir Guaranteed Rent service to add yet another level of protection to your property investment.
Having teamed up with Let Alliance and insurance partners UKGi, for the first time, Belvoir are now able to offer its clients a Rent & Legal service which carries a £nil excess!
As part of our responsibility to notify you of our best available services, we are able to provide an upgrade to your current management package to include our Rent Guarantee as part of our service at just £214.00 inc. VAT per annum.
If you would like to benefit from the new Belvoir Rent Guarantee, no further action is required and we will simply handle the renewal, as before, on your behalf ready for the new cover to commence on your renewal date. The fee will then be deducted from your tenant’s next rental payment and shown on your account summary.
Our experience with insurance policies has shown that landlords typically do not receive rent indemnity payments for close to 3 months after the arrears first began. We understand how this can place you into financial difficulty and thus be a stressful and troublesome time, which is why we will honour this new Belvoir Guarantee if the rent is only 15 days late and you will receive this in your account before the next rent due date.
This eliminates long delays of waiting for insurers to pay out and enables you to meet your own financial commitments. If the tenant fails to pay subsequent months, you will receive the rent no more than 10 days after it is due.
Please find below a copy of the Let Alliance fact sheet which details just some of the other added benefits of upgrading to the New Belvoir Rent Guarantee through Let Alliance.
Landlords Rent Guarantee Fact Sheet – Managed Properties
When tenants can’t or won’t pay, you are protected, not only from rent arrears but also from any tenancy breach.
What does our rental protection plus cover?
- Full rent protection for the total monthly rent, for up to 4 tenants, as named on the Tenancy Agreement
- Rent payable until vacant possession is obtained with no time limit and regardless of when the fixed term tenancy ends
- Legal costs to obtain possession of the property if the tenant fails to pay the rent
- Total claims limit of £50,000
- Covers breaches of the tenancy agreement by the tenant, including non-payment of rent and expired section 21 notices
- Court attendance included as part of the service
- Cover available for six or twelve months to suit you
- Policy is fully transferrable to ensure continuous cover even when the tenants change (subject to satisfactory references)
- Nil excess with rent paid from the point of the first arrears
Complete peace of mind for Landlords
Relax in the knowledge that your rent is protected and you will not be out of pocket.
Our obligation to you is that in the event that there are any defaults in the payment of the Rent (as set out in the tenancy agreement) by the Tenant(s)/Guarantor(s) within the tenancy, we will pay Rent monthly, as per the rent amount on the tenancy agreement, until vacant possession is gained.
Payments will be made subject to any deductions agreed in the agency agreement. Deductions will also be made for any outstanding charges due from you.
In the event of payments being made under this warranty, all of your rights as Landlord to recover such sums shall be subrogated to the Agent or their insurer in order to affect recovery of sums paid (in the name of the Landlord if necessary or expedient). By choosing this service you confirm and agree to the same. Recovery of rents paid out shall be at our sole discretion.
Should you receive any funds from any Tenant(s)/ Guarantor(s) after any date of default which results in us having to pay any monies to you under the terms of this guarantee, you shall immediately notify us of such receipt and shall forward such funds to us immediately on receipt.
Is your Buildings insurance is also up for renewal soon? Why not see if Let Alliance can offer you a great level of cover and premium on that as well…? Just let me know and I will put you in touch with them direct to ensure they’re aware of your individual requirements.
