Why Landlords Should Seriously Consider Rent and Legal Protection

Being a landlord can be rewarding, but it’s also a role that comes with responsibilities and risks. Along with managing tenants and keeping properties up to standard, landlords face the unexpected – from sudden rent arrears to legal battles over possession. But there’s good news: with the right protection, you can shield yourself from worst-case scenarios. In this blog, we’ll share why Rent and Legal Protection is an absolute must for landlords. Take it from us – we’ve seen firsthand how valuable this safeguard can be.

What is Rent and Legal Protection?

Rent and Legal Protection provides landlords with peace of mind by covering two key areas: unpaid rent and legal costs related to possession. If tenants fail to make payments while still occupying the property, this protection steps in to cover your income gap. Plus, if you ever need to take legal steps to regain possession, it helps with the often high legal expenses. In short, Rent and Legal Protection safeguards your rental income and helps manage costly legal processes.

Why Having No Protection Could Cost You (A Real Story)

Back in June 2020, we rented a flat in Crouch End to tenants who seemed perfect on paper. They passed every reference check, and we felt confident about moving forward. For the next two years, these tenants lived up to expectations – they maintained the property well and paid rent on time.

Unfortunately, life took a downturn for them. Job losses, health struggles, and other issues made it impossible for them to keep up with rent. The landlord was incredibly understanding, but eventually, the situation became unsustainable, and there was no choice but to pursue legal action to regain possession.

The process began in November 2023, but with court delays, the final hearing didn’t occur until February 2024. A possession order was granted, but actual possession wasn’t obtained until October 2024. In total, the landlord faced a rent loss of 13 months and legal fees exceeding £3,000. While the buildings insurance covered rent loss due to events like fire, it didn’t cover unpaid rent. This is where Rent and Legal Protection would have made all the difference.

Protecting Your Investment: Why You Shouldn’t Wait

We’ve learned from experience that even the most reliable tenancies can take an unexpected turn. Financial setbacks, health issues, and life changes happen, and landlords can face severe financial implications if they’re not protected. Legal proceedings are lengthy, and with proposed changes in legislation, they’re likely to get even slower, leaving landlords more exposed than ever.

Avoid Unfortunate Scenarios with the Right Cover

At Davies & Davies, we’ve helped many landlords secure Rent and Legal Protection, so they’re prepared for all scenarios. With this cover, you can navigate tough times without facing steep financial losses. 

If you’re interested in learning how to safeguard your investment, give us a call. Our team is here to help connect you with the best options for your situation.

Contact us:

mark@daviesdavies.co.uk – Sales Director (contact for sales, lettings and new homes)

katrina@daviesdavies.co.uk – Head of Property & Block Management (contact for property and block management)

Davies & Davies Estate Agents, 85 Stroud Green Road, London, N4 3EG

Article & images by Barefaced Studios

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