Important Information for Landlords
Whilst businesses are still recovering from the impact of the Pandemic, we are now facing further risks to rental payments with increasing costs of living.
We are all aware that energy prices alone are increasing exponentially, creating financial difficulties for many tenants.
With inflation running at 9%, a 40 year record high and set to increase up to 11% later this year, it is expected that some tenants will be under increased financial pressures and therefore rent arrears are more likely to occur.
ENERGY
The energy crisis is one of the biggest contributors to our outgoings, with gas and electricity prices increasing by 54% in April, and confirmation that further rises are to follow later in the year.
FUEL
The cost of fuel has increased to record highs, the cost of the weekly food shop is increasing along with clothing, and transport and pretty much any services your tenants need.
TAXES
Increased taxes from April 2022 have resulted in reduced income for many, increasing interest rates are adding to the problem.
We are facing the perfect storm and we want to help manage the risks for you.
As industry professionals, we are urging every landlord not to wait and see what happens, but to ensure your rental income is properly protected and we are now including this as part of our service to ensure we are looking after your best interests.
Not Just “Another” Rent Protection Service
As part of our service to you, we’re able to provide protection for your property by including you as having an ‘interest in’ our Rent & Legal Protection policy with HomeLet. This means you can benefit from the cover detailed below should we make a successful claim, and any sums recovered that are due will be passed on to you.
Safeguard Your Rental Income and Protect Your Property
In the event that your tenant falls into arrears or breaches their tenancy agreement, we will pay your rent and help to obtain vacant possession of your property, subject to the terms and conditions of the service.
The cost of this service is £25+VAT per property, per month.
Rent & Legal Protection provides the following benefits:
Monthly rent paid for up to a maximum value equivalent to fifteen months of arrears, plus 3 months’ rent paid at 75% following Vacant Possession for many tenants
No Excess, 100% of your rent is paid
Legal expenses up to £100,000 to cover eviction costs if the tenant is in breach of their tenancy agreement or following an expired section 21 notice
Professional court attendance on your behalf
What you need to do
If you do not want this protection as part of your management service or you already have it elsewhere, please tell us by 15th September — simply send us an email or give us a call: 01582 661112 / michael@robinsons-estates.co.uk.
If you want to benefit from this protection and our service, you do not need to take any action. From September a cost of £25+VAT will be deducted from the rent. This cost is usually fully tax deductible.