2020 has been an unprecedented year to say the least. Berkley want to help ensure that landlords can have peace of mind in these uncertain times. This includes knowing that you are protected in circumstances where tenants can’t or won’t pay rent. Therefore, Berkley have partnered with HomeLet to offer rent guarantee for landlords under the rent recovery plus protection. This protection covers a large range of factors, and ensures landlords can breathe easy knowing they are in safe hands.
Why do I need Rent Recovery Plus?
We are now urging every landlord not to wait and see what happens, but to ensure their rental property is properly protected immediately. You may know how challenging it can be to remove a non-paying tenant. According to the Ministry of Justice’s landlord possession statistics, published in May 2020, it can take an average of over 10 months to regain possession of a property after making a claim. This can cost a landlord nearly £10,000 in lost rent while waiting to evict a tenant. And these numbers have only increased following the effects of Covid-19. This is why we work with industry experts HomeLet, to provide landlords with a solution to these issues.
What Rent Recovery Plus Offers
– Cover for the total monthly rent, no matter how many tenants are on the tenancy agreement.
– Monthly rent paid for up to a maximum value equivalent to six months, which includes 2 months at 50% following Vacant Possession (where applicable) from the date of the first arrears.
– Legal expenses up to £50,000 to cover eviction costs if the tenant is in breach of their tenancy agreement.
– Covers breaches of the tenancy agreement by the tenant, including non-payment of rent and expired section 21 notices.
– 12 months of cover.
– Rent Recovery Plus covers the whole property meaning the policy continues even when/if the tenants change.
– No policy excess – your rental payments are covered straightaway.
HomeLet have paid out across all rent protection claims since July 2015
CIFAS Matches a month
Tenant records held on our Default Database
Landlord Possession claims in 2019
HomeLet average time from issue of claim to eviction v’s. national average of 305 days
References processed by HomeLet each year
All statistics correct as of January 2020, based on information held by Barbon. Subject to satisfactory referencing – an acceptable Enhance reference has been completed, a tenancy application score of over 710 is required, only available for UK applicants in full time employment. A HomeLet Insight reference is not a satisfactory reference for this product. HomeLet is a trading name of Barbon Insurance Group Limited which is authorised and regulated by the Financial Conduct authority for insurance distribution. Registered in England number 3135797. Registered office address: Hestia House, Edgewest Road, Lincoln, LN6 7EL.
How do I get Rent Protection Plus?
Get in contact with one of our friendly team to find out more information about Rent Protection Plus and how you can start benefiting from it today! Contact one of our three offices situated throughout Leicestershire.