Cardiff landlords can your tenant pay the rent if they are made unemployed?
Unfortunately if your tenant is one of the 3.8 million households across the UK then chances are they can only pay their rent or mortgage commitments for a month after losing their job. Research by YouGov has found that almost four million households are just one payday from losing their home. An even more worrying statistic for landlords is the fact that 29 per cent of family’s 2.4 million households would face immediate eviction as they had no savings at all.
How can Cardiff Landlords Protect Themselves?
There are several options for landlords across Cardiff and South Wales to protect their property investment against rent arrears and voids periods. The first option is to purchase Rent Guarantee Insurance (RGI) which requires tenants to undergo and pass an in-depth credit reference and employment reference procedure. As with any insurance policy you must understand the T & C’s and there will be an insurance excess to pay, so landlords must keep money set aside to cover void periods until the Rent Guarantee Insurance (RGI) pays out.
A second option is to speak to a Rent Guarantee provider such as Rent Guarantee Cardiff; we provide landlords in Cardiff and across South Wales complete peace of mind by guaranteeing their rent for a set period of time, ensuring landlords receive their guaranteed rent on the same day each month with no set up costs or management fees. Unlike other rent guarantee providers who offer 70-75% of open market rent as a guarantee, Rent Guarantee Cardiff offer up to 90% open market rent.
Rent Guarantee Cardiff unique business model enables us to guarantee up to 90% open market rent, enabling Cardiff landlords and property investors to achieve a 20% increase of their rental income compared to using a traditional letting agent. Plus you will never need to worry about evictions and legal costs, we cover that with at no extra cost.
If you are a landlord in Cardiff or other areas of South Wales and would like to discuss how much guaranteed rent we can offer you, please complete the short form below to receive a call from us: