{"id":5671,"date":"2017-06-19T13:11:52","date_gmt":"2017-06-19T12:11:52","guid":{"rendered":"https:\/\/www.lettingaproperty.com\/landlord\/blog\/?p=5671"},"modified":"2017-06-19T13:11:52","modified_gmt":"2017-06-19T12:11:52","slug":"guaranteed-rent-scheme","status":"publish","type":"post","link":"https:\/\/www.lettingaproperty.com\/landlord\/blog\/guaranteed-rent-scheme\/","title":{"rendered":"Guaranteed Rent VS. Rent Guarantee Insurance"},"content":{"rendered":"\n

Guaranteed Rent<\/strong>, Rent Guarantee Schemes or Rent Guarantee Insurance could have a big impact on the best way to rent out your property.<\/p>\n\n\n\n

Unfortunately, unless you’ve got a pretty good understanding of the world of buy-to-let, it can be somewhat of a challenge to navigate the jargon to determine what’s best for you when becoming a landlord<\/a>.<\/p>\n\n\n\n

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Guaranteed rent vs rent guarantee insurance for landlords. What’s the best option?<\/figcaption><\/figure><\/div>\n\n\n\n

In simple terms, all of these rent guarantee products are designed to guarantee the landlord’s rent<\/strong> in situations where either the tenant falls into financial hardship and cannot afford to pay the rent, or in cases where they refuse outright to pay rent for whatever reason such as disputes.<\/p>\n\n\n\n

With a number of guaranteed rent schemes on the market, each with their own unique terms, conditions, eligibility and restrictions, it can seem confusing. So, let’s begin with understanding what is rent guarantee insurance?<\/p>\n\n\n\n

What is Rent Guarantee Insurance?<\/h2>\n\n\n\n

Rent Guarantee Insurance<\/strong> is essentially an insurance product that you can purchase from a specialist landlord insurance broker.<\/p>\n\n\n\n

Think of it like a ‘life insurance policy’ or ‘building and contents’ insurance. Being an insurance backed product, it generally comes with fairly stringent terms and conditions which may vary according to the insurer but generally include:<\/p>\n\n\n\n