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The Landlords Club - Insurance Forum
Subject: Insurance non-payment of rent and for legal costs

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Author Messages
nifkin
Posts:1

10 Oct 2006 17:14:55 Alert 
I recently bought a flat and I rent it out to a family from Hungary. They seem very descent and so far I have not had any problems (they moved in 2 months ago) The guy works in Starbucks with an annual wage of £10 000.
I wanted to get an insurance, which covers non-payment of rent and for legal costs in case I have any problems but the Ref I got from FLS is that my tenant is at moderate risk and rental limit of £260 so he requires a guarantor.
He has sold a flat in Hungary and can afford the rent but apart from showing his bank statement he can't provide a guarantor as he's moved to the UK 6 months ago.
Is there anything else I can do to get the insurance? Does anyone know what I should do in this situation? Am I taking a big risk?
Thanks
N Berova
eddidavies471
Posts:2

13 Oct 2006 03:49:03 Alert 
Have a standard tenancy agreement (oyez) one months deposit plus rent in advance and common sense. Keep the premium for a celebration later.
jackierich
Posts:1

23 Feb 2007 09:06:43 Alert 
No your not taking big risk. advice would be to sit tight - generally you wont have any problems. When we have had situation like this we have taken 2 months rent as deposit. Then if it should become a problem you can at least cover your legal fees out of the deposit
stephanf
Posts:7

01 Oct 2007 06:08:30 Alert 
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stephanf
Posts:7

01 Oct 2007 06:09:15 Alert 
Hi
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stephanf
Posts:7

01 Oct 2007 06:10:07 Alert 
Hi
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stephanf
Posts:7

01 Oct 2007 06:10:47 Alert 
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stephanf
Posts:7

01 Oct 2007 06:12:06 Alert 
Hi
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stephanf
Posts:7

01 Oct 2007 06:12:33 Alert 
Hi
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stephanf
Posts:7

01 Oct 2007 06:13:11 Alert 
This may help you

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jackson
Posts:4

28 May 2008 09:08:36 Alert 
Yes!! Nice information that you have shared with us.
Thank you very much



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