Tenant A takes a 12-month tenancy, starting in September 2019 and ending in September 2020, for an initial rental of £850 per calendar month. The tenant loses their job because of the pandemic and only pays the rent for the first four months, up to the end of December 2019.
Thanks to Covid-19 and the government changes to the eviction laws, court action was applied for, but it took until the 5th of February 2021 to get a hearing.
That’s five months after the end of the initial tenancy and a loss of over £10,000 plus £1,000 in legal costs!
Luckily, the landlord had Rent Guarantee, receiving their payments on the 25th of each month, without losing a penny!
If you can see the benefit of this in a post-pandemic uncertain world, we need to have a chat with you.
Removing uncertainty is what Rent Guarantee is all about.