What is Landlord Rent Guarantee Insurance?
Landlord rent guarantee insurance – also known as tenant default insurance – is a popular add-on to landlord insurance. It protects landlords financially should their tenants fail to pay their rent. With the UK rental market continuing to grow, according to the Office for National Statistics (ONS), and with the average eviction now taking 42 to weeks**, the last thing you want is a rental property that’s not bringing in any rent.
Who Needs Rent Guarantee Insurance?
If you’re a landlord, it’s worth adding tenant default insurance to your landlord policy. Even the best tenants with the best references and faultless payment histories can get into financial difficulty and leave you out of pocket.