Tenant Referencing comes in many guises but in this article I am going to focus on how landlords can outsource a major piece of due diligence and pass the risks of tenants failing to pay rent onto an insurance company by purchasing Rent Guarantee Insurance “RGI”.
The concept itself is very simple. The insurer performs checks on the tenant which allows them to establish that rent is affordable and is likely to be paid. The insurance company then insure against the risks to the landlord in the event of non-payment on the part of the tenant. This is what happens if the tenant stops paying rent if you have purchased an RGI policy and followed the correct procedures:- Continue reading Insuring against the risks of non-payment of rent
Landlords across the country appear to be changing tack as the amount of successful possession orders appears to be on the rise.
Let Insurance Services have found the amount of possession orders without a money judgement is up a third on 2010 as landlords appear to be cutting their losses. Continue reading Possession Increasingly Obtained Without Money Orders
Dozens of letting agents have gone bust in recent months leaving landlords struggling financial with unpaid rents and unprotected deposits.
In some cases the letting agents are just poor business administrators, but several have ended in court for deliberate and calculating frauds involving the theft of hundreds of thousands of pounds of money belonging to property investors. Continue reading Protecting a Rental Business Against Rogue Letting Agents
Please review this video and blog and feel free to add your own suggestions in the comments section below. Continue reading Tenants From Hell and How To Avoid Them