During these unprecedented times you may find that your tenant may have financial difficulties and may not be in a position to pay their rent. As most Landlords rely on the rent either for income or to service a mortgage this will obviously have a knock on effect.
Some landlords may be in a position to help with a rental holiday and some may have some form of ‘Rent Guarantee Insurance’ in place, sometimes referred to as rent protection. The rent protection insurance cover can offer a financial lifeline if the tenant defaults on payment.
Many landlords may not even be aware that they have this cover in place as it could be included in the main property insurance so it is important that you check your position with your insurance company or insurance broker before being faced with a problem.
We at Tempo want to provide as much support as possible to both Landlords and Tenants so would ask if all Landlords could advise us if they have any form of rental guarantee/protection in place or are prepared to offer any financial help that may lessen the burden on current tenants who may be struggling with their rent.
This is a time for all of us to pull together and help out as necessary so any feedback will be welcome.
Take Care & Stay Safe.