Rent Protection with full rent paid upfront

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   Hi there,

Just wondered what people's thoughts were on this situation:

New tenant signing a 6-month lease, paying the entire rent upfront via Leaders due to a CCJ.

Should I still get rent protection insurance? It would only be for the legal protection (I don't know what this would cost if it happened). 

Leaders are offering me 11.5% fully managed or 12.75% fully managed with rent protect. It works out at about £126 for the insurance for the year (£63 for the 6 months).

Thanks

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dylanuk Members Profile Send Private Message Find Members Posts Add to Buddy List Member Joined: 07 January 2010 Online Status: Offline Posts: 1	Quote Reply Topic: Rent Protection with full rent paid upfront Posted: 07 January 2010 at 11:15am
	Hi there, Just wondered what people's thoughts were on this situation: New tenant signing a 6-month lease, paying the entire rent upfront via Leaders due to a CCJ. Should I still get rent protection insurance? It would only be for the legal protection (I don't know what this would cost if it happened). Leaders are offering me 11.5% fully managed or 12.75% fully managed with rent protect. It works out at about £126 for the insurance for the year (£63 for the 6 months). Thanks

ashburnham Members Profile Send Private Message Find Members Posts Visit Members Homepage Add to Buddy List Member Joined: 06 December 2007 Online Status: Offline Posts: 41	Quote Reply Posted: 07 January 2010 at 11:38am
	If you want legal protection, you should just add it to your landlords building insurance. There is certainly no need to take out rent guarantee cover as well. We even do a buildings policy that includes legal protection as standard so there would be no need to take out and pay for any extra unwanted cover.
	Buy to Let Insurance - Instant online quotes for landlords insurance.

Grampa Members Profile Send Private Message Find Members Posts Add to Buddy List The 1,000 Posts Club Joined: 28 August 2008 Location: England Online Status: Offline Posts: 1348	Quote Reply Posted: 07 January 2010 at 7:08pm
	What happens after 6 months if he doesnt pay any more rent? Need i say more. Also what will Leaders put on the contract as the rental period (normally pcm) because if the rental period is 6 months if could cause problems with the serving of a s21 and 6 months may have to be given not the normal 2.
	The advice I give should not be construed as a definitive answer, and is without liability.

Richlist Members Profile Send Private Message Find Members Posts Visit Members Homepage Add to Buddy List The 2,000 Posts Club Joined: 01 January 2007 Location: UK/Spain/France Online Status: Offline Posts: 3332	Quote Reply Posted: 07 January 2010 at 8:30pm
	Good points Grampa. Normally if a tenant takes a 6 month AST and pays monthly the RGI expires after 6 months and usually if the tenant has looked after the property and paid rent on time then continuing without RGI....as I usually do....hasn't, up to now posed a problem. But, it could if the tenant pays 6 months in a lump because you have no payment history. If the contact shows 6 months paid upfront then notice does become 6 months.....which can pose a problem.
	Comments assume you're in England/Wales, pay under £2083 monthly rent and that your last AST was dated after 6/4/2007. Probably the best landlord in the world - well if its good enough for Carlsberg.

Grampa Members Profile Send Private Message Find Members Posts Add to Buddy List The 1,000 Posts Club Joined: 28 August 2008 Location: England Online Status: Offline Posts: 1348	Quote Reply Posted: 07 January 2010 at 11:43pm
	That why if ever i take 6 months up front (not very often) the contract shows the rental period as pcm but i give the tenant a reciept for the 6 months paid. This then doesnt complicate things if you have to evict as it a standard contract.
	The advice I give should not be construed as a definitive answer, and is without liability.

nancygale12 Members Profile Send Private Message Find Members Posts Add to Buddy List Member Joined: 26 July 2010 Location: losangela Online Status: Offline Posts: 2	Quote Reply Posted: 26 July 2010 at 11:50am
	Howdy, Hmm.....it's considerable........! well I have recently bought a lovely home from Maryland realtors , it's really amazing rather i got it with good services & good coast. Thanks

Richlist Members Profile Send Private Message Find Members Posts Visit Members Homepage Add to Buddy List The 2,000 Posts Club Joined: 01 January 2007 Location: UK/Spain/France Online Status: Offline Posts: 3332	Quote Reply Posted: 26 July 2010 at 12:49pm
	Now where is Losangela......isn't that near to Coventry, West Midlands ????
	Comments assume you're in England/Wales, pay under £2083 monthly rent and that your last AST was dated after 6/4/2007. Probably the best landlord in the world - well if its good enough for Carlsberg.

nancygale12 Members Profile Send Private Message Find Members Posts Add to Buddy List Member Joined: 26 July 2010 Location: losangela Online Status: Offline Posts: 2	Quote Reply Posted: 31 July 2010 at 6:52am
	Hiya......... Hey...it was fault by spell mistake, it's losangeles not losangela......i m really sorry for that.

Rent Protection with full rent paid upfront

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