EndsleighLet launches rent guarantee policy
Landlords are being offered a new rental insurance product from EndsleighLet.
With unemployment expected to hit the 3 million mark by the end of the year, letting agents can expect to see more and more people default on their monthly rental payments, says EndsleighLet.
EndsleighLet has launched a product called Reference PLUS, which combines a tenant reference service and rent guarantee insurance policy.
The referencing service is powered by credit information group Experian.
Carlos Thompson, general manager at EndsleighLet, said: “As the recession intensifies there have been a significant increase in enquiries from letting agents and landlords asking for advice on how to deal with tenants who fail to pay their rent.
“The most common type of default during the term of the tenancy will be non-payment of rent, but any breaches of the terms of the tenancy agreement, for example damage to the property or nuisance to neighbours, can also precipitate legal proceedings.”
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