From the first missed payment through to recovery — seven stages every landlord should understand.
Avoid excess or even worse, declining of your claim by reporting quickly (within 45 days of loss).
Mediation is a tool that Insurers use to resolve the matter with the Tenant(s).
All legal insurance requires prospects, so ensure all your tenancy documents are provided.
Once your claim has been accepted, the legal team take over the possession process and, subject to policy conditions, Rent Arrears Cover can be applied for.
Rent is paid one month in arrears once accepted and you will need to send up to date rent logs monthly to the insurer.
Once eviction of the Tenant(s) has been obtained and you have your property back, the policy still continues to support you.
Following the check out report and Deposit adjudicators report, you may still have money owed from the tenant(s). Subject to policy conditions and prospects, the policy may assist in funding legal costs to recovery monies owed.
No possession action means no Rent Arrears Cover.
Insurers and legal teams ask for the same documents every time. Having them stored, validated and address-matched before arrears hit saves weeks of delay.