When we talk about Rental Protection to our landlords we’re not trying to upsell or earn any kind of commission from other companies; we simply see many cases where our clients are left helpless when difficult tenants cause significant damage or even just refuse to leave. We also thankfully get to see the better side of things where landlords have taken appropriate precautions and can deal with difficult tenants knowing that their assets and their income are protected.
We’d like every experience to be a good one and we also realise that being a landlord can be a very busy job so we have made a decision to ensure that we help as much as we can and include at least the most basic cover within our landlord packages.
Rental Guarantee & Tenancy Eviction service – we can provide information on this (or even better have it included as part of the Strawberry Platinum management package).
At Strawberry we sometimes find ourselves in a bit of a quandary when it comes to looking after our landlords. We want, wherever possible, to save you money but we also have a duty of care as your managing agent to make you aware of the possible pitfalls and unexpected costs you could incur within any tenancy. When we have services which could offer protection from unforeseen expense we think it’s most definitely our responsibility to provide you with the information on them.
We are meticulous in our referencing of new tenants however circumstances, and perhaps also attitudes, can change during the term of a let and someone who was initially a perfect candidate can start to behave quite differently and cause serious issues. Unfortunately we also live in an age when people tend to be more aware of how to ‘work’ a system and therefore failure, and more worryingly refusal, to pay is much more common than it ever was in the past.
We utilise the services of a company who are very well respected in this market and have a wealth of knowledge and experience in dealing with the more difficult aspects when a let goes wrong. Through our working partnership we have secured very favourable rates with them for Strawberry clients but, even with this pricing structure applied, the costs of individual actions can be significant to say the least. Our aim is not to frighten you into buying the product we recommend; rather we hope that in realising the potential cost of not having it you see just how much it makes sense:-
• Serving of a legal notice - £99.00
• Accelerated Possession (Paper based, incl. court fee) - £760.00
• Apply & Attend Court - £970.00
• Instruct Bailiffs - £190.00
• Issue Section 47/48 Notice - £49.00
With these costs in mind we at Strawberry suggest that, as a minimum, our Landlords have Tenant Evict insurance. At only £108 incl. VAT per tenant per annum this great value service means we will manage the legal process to evict your tenants (including all of the above elements).
Even with our eviction service in place covering the eviction costs, there may still be a long period (typically 4-6 months) where rental income is being lost. We know first-hand that this can be disastrous for a landlord of any size and could potentially cost even more than the eviction itself.
The peace of mind of having both eviction costs and rental losses covered (including some rental after eviction) can only be achieved by having a fully comprehensive Rental Guarantee & Tenancy Eviction service. We know life as a landlord is never quite ‘plain sailing’ but with this product in place it might just be the closest thing to it and the policy we are able to offer costs just £180 incl. VAT per annum. We understand that as a landlord you might just see this as another charge to bite away at your profits however we urge you to consider the potential cost of NOT taking out this protection – legal costs and 6 months lost rental could amount to many thousands of pounds.
If you would like to discuss the various options available or would like more detail on our Platinum management package which includes the Rental Guarantee & Tenancy Eviction service then please just give us a call and we will be happy to help. If you have an existing issue and don’t currently have either product then we can at the least assist by giving you access to the Ad Hoc legal experts we have sourced.