Court Fee Rise: Landlords, Are You Protected?
As of the end of March, court fees related to taking possession of a rental property and claiming unpaid rent have risen. For many landlords, paying legal fees is nigh-on impossible when rental income ceases, particularly when there is still a mortgage to pay, so it’s important to have a contingency plan in case the worst happens.
At Julie Twist Properties, we offer a way for you to avoid all the hassle and much of the expense related to court proceedings. You can choose our Rent Guarantee insurance as part of your property management package.
With Rent Guarantee, you can be sure that you will receive a rent payment every month, even if your tenants fail to pay for whatever reason. Not only that, but all court costs and legal fees for tenancy-related problems are included in the price.
What does this mean to you in terms of savings? Well, the following will be paid in the event of a court order being made for possession of the property:
£1000 legal fees
£355 court fees (an increase from £280 previously)
£175 bailiff fees
Around 3-4 months’ rent
In other words, taking our Rent Guarantee insurance can save you around £5000 in the event that you need to start legal proceedings against your tenants.
Even better, there is no excess to pay on the policy. So, landlords, can you really afford not to take out Rent Guarantee insurance? A small investment today could save you huge amounts of time and money in the future.
Rent Guarantee can be added to your existing management package by adding an extra 2.5% to your monthly fee.
Please the Julie Twist Properties offices for more information.
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