Letting a property can be a rewarding investment, but like any investment, it comes with its risks. Whether you’re a new landlord or have an established portfolio, protecting your income and legal position is crucial—and that’s where Rent and Legal Cover comes in.
What is Rent and Legal Cover?
Rent and legal cover (also known as landlord legal protection insurance) is a policy that protects landlords from financial loss due to:
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Unpaid rent from tenants
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Legal expenses incurred while dealing with tenancy issues (e.g., eviction, contract breaches, or property damage claims)
It gives landlords peace of mind that they won’t be out of pocket if things go wrong.
Why It Matters
1. Protects Your Rental Income
Even with thorough referencing, tenants’ circumstances can change. Job losses, relationship breakdowns, or financial hardship can result in unpaid rent. Rent cover ensures you continue to receive your income while the issue is resolved.
2. Covers Legal Costs
Eviction processes and disputes can be time-consuming and costly. Legal cover supports you through:
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Serving notices
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Court applications
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Legal representation
These costs can quickly mount up without protection.
3. Professional Legal Support
Most policies give you access to expert legal advice and representation. This helps avoid costly mistakes and ensures you’re acting within the law throughout the process.
4. Speeds Up Resolution
Having a legal team ready means faster response times when disputes arise. You’ll be guided on the correct procedures, which reduces delays and helps you regain control of your property sooner.
5. Peace of Mind for Portfolio Landlords
If you have multiple properties, the financial risk is higher. Rent and legal cover allows you to focus on growing your portfolio without worrying about unexpected costs from tenancy issues.
When Should You Get Rent and Legal Cover?
Ideally, as soon as a new tenancy begins. Many policies require the tenants to pass referencing checks and for the cover to start from the beginning of the agreement.
Conclusion
Rent and legal cover isn’t just a safety net—it’s a smart move that protects your investment, income, and time. At Oakfield, we highly recommend this for all landlords, whether you’re letting out a single flat or managing a growing portfolio.
Want to know more about how this protection can work for your property? Get in touch with our lettings team—we’re here to help. Find our contact details here.