Even when you’ve taken all the right measures to look after your property, sometimes things go wrong.
Open House has partnered with Goodlord to provide Rent Protection and Legal Expenses service. This means that should the unexpected happen, you’ll always get the income you expect from your tenants, and it will also support you if you need legal representation to recover your property.
Rent Protection and Legal Expenses Insurance policies come with nil excess as standard, so you will benefit from 100% of the monthly rent owed until vacant possession is obtained, should you make a claim.
Payment of rent arrears whilst a tenant or ex-tenant still occupies the property until vacant possession is obtained. After which, 75% of the rent will be paid until the property is re-let for a maximum of two months.
Should your property sustain physical damage of £1,000 or more during the tenancy caused by the tenant, the expense for pursuit of a civil dispute against the tenant, to rectify the damage will be covered.
If there are squatters or ex-tenants in the property without your consent, the policy will assist with the costs of eviction.
You get a 90-day claim window, providing plenty of time to organise a claim from the date of the first rental payment is missed by a tenant, with nil excess in the first 45 days and a one month excess for the remaining.
The policy covers against costs and expenses relating to the dispute of a contract, entered into for buying or hiring of any goods and services relating to the property, providing the amount in dispute is over £100 and the agreement was entered into during the period of insurance.
What happens when you need to make a claim?
Much of the claim process has been automated to minimise any stress and reduce the workload.
All the relevant documents you would need to file a claim with the insurer are captured during the pre-tenancy process, so, if you need to file a claim, all the documents are ready to go.
The best part of it is that the actual claim is made on your behalf by Open House!
Fill out this form and one of our agents will be in touch with you soon.
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