Rent Guarantee
Rent Guarantee protects landlords whose tenants default on payments of rent. Rent Guarantee also provides cover for costs and proceedings to evict the tenant from the rented property where applicable. Landlords can buy Smartlandlord Rent Guarantee instantly online and secure their rents.
Product
Name |
Price
(excl. tax) |
|
| Elite Rapid Rent Guarantee 6 months (1 month excess, instant reference) |
£50.00 |
 |
| Elite Plus Rent Guarantee 6 months (nil excess, comprehensive reference) |
£80.00 |
|
| Elite Full Rent Guarantee 6 months (1 month excess, comprehensive reference) |
£70.00 |
|
| Elite Full Rent Guarantee 12 months (1 month excess, comprehensive reference) |
£100.00 |
|
Q. How can I make a claim on my policy?
A. You will need to send a completed claim form along with all supporting documentation, within 31 days of the event, to the Smartlandlord Claims Department at Arc Legal Assistance Limited, PO Box 8921, Colchester CO4 5YD.
Q. What supporting documentation do I need to submit with my claim form?
A.:
- A copy of the referencing report
- A copy of the tenancy agreement
- Proof of default i.e. bank statements
Q. Can I cancel my policy at any time?
A. The Policyholder may cancel their cover within 14 days of receipt of the insurance documentation and receive a full refund of the premium providing that no claims have been notified to the Insurer.
Q. What is the difference between an instant reference and a comprehensive reference?
A. Both references are Smartlandlord references, however the instant reference covers the basics, such as CCJs and identity checks, whereas the comprehensive reference also includes tenants' employment record and previous landlord / letting agent details.
Q. Is the rent guarantee paid immediately if the tenant defaults?
A. No. Smartlandlord will pay 14 days after the default date subject to the excess*.
Q. Do I need to obtain credit checks for all tenants?
A. All tenant have to be over the age of 18 and be in receipt of a satisfactory reference.
Q. My tenant has a CCJ, does this make a difference?
A. Yes. We do not accept tenants with CCJs for our Rent Guarantee cover.
* Please see policy summary here for more details.
If you wish to make a claim a completed claim form along with all supporting documentation should be submitted, within 31 days of the event, to the Smartlandlord® Claims Department at Arc Legal Assistance Limited, PO Box 8921, Colchester CO4 5YD. (See 'Description' tab a choose the appropriate policy wording).
If you need a supply of claim forms then;
Preparing for Rent Guarantee
- Tenants are 18 years of age or more
- All tenants have been referenced
- An inventory of contents and condition has been carried out and signed by the tenant(s) prior to the tenancy agreement
- A signed tenancy agreement has been produced
- One months rent has been taken and cleared
- One months deposit has been taken and cleared
Dos and Don'ts
Do:
- Set up an account with Smartlandlord® in order to access our products
- Collect two forms of identification from your tenant(s)
- Keep an accurate record of all rent due and received including the dates of payments
Don't:
- Begin the tenancy before the policy has been issued
- Exceed the 60 day limit for the start of tenancy
- Apply for Rent Guarantee without collating all of the information set out in 'Preparing for Rent Guarantee'
Reviewing your cover
You may consider it appropriate to review the level of benefit provided by your Smartlandlord® policy on a regular basis to check whether it continues to meet your insurance needs.