It
is hard being a landlord. Not only do you have to manage several units, you
also have to deal with tenants of all shapes and sizes. There are obedient
tenants, lazy tenants, rowdy tenants, and tenants who simply do not have the
money to pay for the rent. Of course, as a landlord, would you risk being a
dictator in waiting by using brute force in order to kick out non-paying
tenants? You do not want to be labeled that, do you? Fortunately, there is a
safeguard for landlords whose tenants cannot, for some reason, pay their rent:
rent guarantee insurance.
Another
Form of Insurance
Rent
guarantee insurance is simply a form of protective insurance given to a
landlord against the loss of rent. The loss of rent or forced vacancy, as
mentioned before, is usually caused by the tenant not paying his dues – and
will cause financial, legal, and maintenance nightmares for the landlord
himself. This form of insurance started out in the UK and is expanded to the
US. Here is how the system works: a guaranteed rent London company, for
example, will offer rent guarantees to landlords for a small annual fee. One
month after acquiring the insurance, the company’s representatives will visit
your property and will take care of things such as maintenance and rent
collection.
Saves
the Landlord’s Sanity
The more units you lease to tenants, the
harder it is to become a landlord. It is like a real-time strategy game where
you have to micromanage things, only with a much longer time period. If you
think late-paying tenants are a pain in the butt, your tenants move in and out
for a short time due to contractual work, or you simply do not have the
required abilities and sanity to effectively become a landlord, it is time you
hand over the keys to a competent guaranteed rent company. You can then relax
and take it easy.
For
more details, go here http://www.allseasonslettings.co.uk/
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