Sequence’s Landlord’s Rent & Legal Expenses will be available through its network of lettings offices and includes cover for up to 12 months’ loss of rent during the process to recover vacant possession. The insurance also provides 75 per cent of the rental income for up to a further two months once the landlord has regained possession of his property, to cover costs while the property is re-let.
“When Housing Benefit levels are cut next year, many landlords could find that their tenants cannot pay the rent, “says Charles Haresnape, Group Mortgage Services Director for Sequence as part of the Connells Group. “This might also apply to tenants who unfortunately lose their jobs. With many landlords dependent on the rental income in order to pay the mortgage on the property, this insurance is indispensable if the landlord does not want to be left with rental losses.”
The policy also covers the cost of evicting squatters, defence costs if a tenant sues the landlord, accommodation costs for the landlord, witness expenses and access to a legal advice helpline. Cover is provided by Home & Legacy Insurance Services Limited.
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