All you need to know about Tenant Shop’s Rent Protection offering

This year we have added a unique void solution to our portfolio and most recently we have worked closely with our insurance partner Paymentshield to design a Rent Protection policy that combines traditional products with the ever-changing requirements of the property market in 2019.

2019 has set out several challenges in the rental sector, including the need for a core focus for Letting Agents on business efficiency. The impending fee ban will inevitably lead to a need to focus on several areas, importantly these will include; reducing administration where possible and the introduction of new improved revenue streams.

Another area of concern for some Letting Agents may be cash flow management, all these areas have been taken in to consideration whilst developing a new Rent Protection policy with Paymentshield.

With the above in mind our new Rent Protection offering will include the following features;

  • A monthly payment option that is available to support cash flow requirements
  • A policy that can be purchased with a minimum criteria of a clear credit check showing no adverse data for the previous three years
  • Referencing criteria that is not tied to one referencing provider, in fact Letting Agents can complete their referencing in house if they choose to, but would still need to meet the criteria of the policy
  • A policy that includes the Insurer serving Section 8 & 21 notices to ensure the correct standards are adhered to, helping reduce the administration workload of our Letting Agent partners
  • Legal Expenses that provide £100,000 of protection
  • A policy that also provides a 24-hour legal advice line relating to any queries regarding the rental of the property

These features come coupled with the normal features expected of a comprehensive Rent Protection policy;

  • Rent protected up to £15,000 per calendar month
  • 75% of the rent payable for 2 months after vacant possession has been gained
  • A choice of 6 or 12-month policies
  • Letting Agents have the option to take out policies in their own name (as part of a managed service) or refer landlords to Tenant Shop so that they may purchase Rent Protection directly.

If you would like to discuss the details of our new Rent Protection policy, or other services, further to understand the full details of what is covered and what is not, please contact our New Business Development team on 0203 823 9353 or email team@tenantshop.co.uk. Alternatively, please visit us at the ARLA national conference on 2nd April at London’s ExCeL.

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