TENANT GUARANTEE
Is a unique insurance guarantee which takes the place of a tenant’s deposit and should cost the landlord nothing* as the tenant pays the premium, but it secures you against:
RENT (shortfalls)
DAMAGE (caused by Tenants)
LEGAL FEES (to remove a problem Tenant)
With the Tenant Guarantee in place, you don't have to take a Deposit, so you can avoid the Government's Deposit Protection Scheme.
What's more it's incredibly easy to set up your Tenant Guarantee, and it shouldn't cost you a penny!
Simply vet your Tenant(s) via TenantVERIFY® at www.TenantVERIFY.co.uk (using their 'Comprehensive Credit & Referencing Search') and, once they have been approved for at least the amount of the monthly rent that you will be charging the Tenant , come on-line here and complete the simple Tenant Guarantee set-up form.
Your Tenant Guarantee insurance policy will automatically be e-mailed to you by return along with our invoice. There are no up-front fees.
Your Tenant Guarantee insures you for a value equal to 3-months rent (or £2,500, whichever is the lesser) covering Rent Shortfall and Damage, plus Legal Costs.
Tenant Guarantee is underwritten by Red Sands Insurance Company (Europe) Limited, who are duly authorised and regulated by the FSA. Click here to see their listing at the FSA.
How it works...
It's incredibly easy to obtain your Tenant Guarantee. Just follow these 2 simple steps:
Step 1. Have your Tenant(s) vetted via www.TenantVerify.co.uk (using their 'Comprehensive Credit & Referencing Search')
If your Tenant(s) cannot be approved by TenantVERIFYÒ but they do have a third party person who will stand as Guarantor for them, simply get them to complete the 'Third Party Guarantor' form from this website and fax or post it to us. We will credit check the 3rd party FREE OF CHARGE (normally within 12-hours) and, once they have been approved, we will e-mail you confirming this. You can then set up your Tenant Guarantee in the normal way.
Once they have been approved move to Step 2...
Step 2. Come on-line here and click on the 'Set Up A Tenant Guarantee' link. Complete the simple form and your Tenant Guarantee will be e-mailed to you automatically, along with our invoice. You can choose whether you want a 6-month or 12-month Tenant Guarantee which then covers you for the initial term of the AST tenancy.
NOTE: Once you receive your Tenant Guarantee you have 2-weeks in which to sign your new Tenant(s) into their AST. Remember that, in the event of a claim, you will need to provide evidence of the condition of the Property at the start of the AST. This can be done by way of a detailed and comprehensive inventory and/or detailed photographs, either or both of which must be signed by the tenants (see our Terms & Conditions for what is required in the event of a claim against your Tenant Guarantee).
http://www.tenantguarantee.com/home.htm
* most Landlords charge the cost of the Tenant Guarantee to their Tenants.
