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Storeys/Goodlord rent protection for landlords

Storeys/Goodlord rent protection for landlords

Becoming a landlord is a great way to invest in your future and to generate profit from an asset like an old family home. However, it doesn't come without its risks. Perhaps one of the most significant for every landlord is the potential issues that can arise if the rent stops coming in. Many landlords today are reliant on rent payments to cover mortgages or other outgoings and complex situations can be created when that cash flow stops. That's why Storeys has teamed up with Goodlord to offer the ideal solution - rent protection for landlords that is designed for the modern lettings environment.

It pays to have great tenants

One of the things we recognise at Storeys is how important it is for landlords to have great tenants. We put time and effort into helping our landlords find the right tenants and also into nurturing relationships that are mutually beneficial and long lasting. However, sometimes things don't work out and when that happens it's important for there to be some kind of income protection in place.

What does Goodlord rent protection provide?

It's essentially a way to ensure that you can still receive the rental income that you need even if your tenants stop paying it. So, if your tenants don't pay the rent that has been agreed in the tenancy agreement, if you have Goodlord rent protection in place via Storeys you'll be covered. However, that's not where this comprehensive approach to landlord support ends. In addition, rent protection provides the following:

  • Getting the property back. Working together with Storeys, Goodlord will ensure that you get your property back from tenants who haven't paid their rent but are refusing to leave. This includes managing the legal process that might be involved (for example, evicting tenants) so that you don't have to deal with the waiting and the stress.
  • Ensuring that you get your rent. Rental protection cover also includes pursuing tenants who have not made the required payments to ensure that outstanding rent is recovered.
  • Cover for costs. In addition, the policy provided by Goodlord will also extend to cover up to £1,000 of property damage caused by tenants and legal expenses of up to £100,000. This could be, for example, where there is a criminal prosecution as a result of an action for unlawful discrimination or if there is a dispute with one of the parties to the tenancy agreement.

Greater peace of mind

Tenants who don't pay rent - and all the problems that can cause - remain one of the biggest headaches for landlords. That's why we're working with Goodlord to offer this smart solution. As letting agents in Hackney we've seen plenty of issues arise in tenancy relationships and, although we often work to resolve problems personally, we know that this kind of protection is a smart move as a back up in the worst possible scenario. If you'd like to find out more about Storeys/Goodlord rent protection for landlords please get in touch.

19 September 2019Written by Andrew Blythe

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