Dealing With Rogue Tenants
Generally speaking most of your tenants will be fine to deal with especially when it comes to paying their rent. You do sometimes come across tenants who can be very difficult in relation to rent payments and you do sometimes hear horror stories of tenants simply up and leaving while owing several thousands pounds in rent payments however if you have the right insurance in place then you can reduce the damage that this can do and we are going to look at this here.
A rent guarantee clause is something that every landlord should have in their insurance policy as it offers you a high level of protection if you do fall victim to one of these rogue tenants and find yourself losing a great deal of money. The insurance means that you can claim back any money that you have lost because of this tenant so you will not lose out on months of rent; indeed, many policies actually allow you to claim back money that you have personally paid for legal expenses if the matter should go this far which is a great bonus.
Insurers and comparison sites like Property Quote Direct sometimes have this clause as a standard part of their policies however in some cases you may actually have to add it on as an extra expense. The importance of having this on your policy cannot be stressed enough and without it you could see yourself losing out on a great amount of money all because you did not pay a little bit extra to have this on your policy. Make sure you do your research before you buy your landlord insurance and be certain that this clause is in your contract as, without it, you are exposing yourself to risk and could end up paying a heavy financial price.
About this entry
You’re currently reading “ Dealing With Rogue Tenants ,” an entry on Brelimar
- 6.22.12 / 1pm