Rent Guarantee Service
Protect your rental income
Written by: Richard Antrobus Category: Landlords February 16, 2021
Securing your property income with VitalSpace
Within the landlord community, it’s fair to say that the major concern when renting your property is what happens if your tenants do not pay their rent.
At VitalSpace, we have thought ahead and want to ensure any landlord concerns are alleviated.
We aim to offer our landlords the highest level of income security from their property investment. Our Rent Guarantee and Legal Service is designed to provide cover when the worst happens; a tenant defaults on rent and/or breaches the tenancy agreement. This is extremely prevalent as we enter a time of uncertainty due to the end of the furlough scheme.
We can offer the following cover to all our Landlords:
- Missed rental payments until vacant possession of the property or for up to 15 months, whichever comes first. This is unique in the market.
- Cover for the total monthly rent, up to 4 occupants
- Cover limit of £2,500 rent per calendar month
- Total claims indemnity limit of £100,000 to cover rent and the eviction costs
- Covers breaches of the tenancy agreement by the tenant, including non-payment of rent and expired section 21 notices
- All claims handled in house by VitalSpace team members
- Cover should a tenant defend the action taken, that means that we’ll continue to pay the claim until the challenge has been resolved
What is the cost?
Rental guarantee is available to all our landlords, whether we manage your property or not.
To obtain the above rental protection, there is a charge of 3% + VAT of your monthly rental income. If you wish to benefit from the new rental guarantee arrangement, simply complete the below form and leave the rest to us. Any costs will then be deducted from your tenant’s next rental payment and shown on your account statement.
The option to protect your rental income is available to all new and existing landlords on our Ultimate Property Management service. This means that every one of our customers can benefit, without the need to wait for renewal of tenancy.
