Management
Rent Guarantee Insurance
Insurance covering unpaid rent from tenants
Full Definition
Rent guarantee insurance covers lost rent if tenants stop paying, typically for 6-12 months or until possession is obtained. Policies cost 4-8% of annual rent. Most require thorough tenant referencing as a condition. Useful protection but no substitute for proper tenant selection.
Related Terms
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Analyse a PropertyMore Management Terms
Letting Agent
Company managing property lettings and tenants
Void Period
Time when property is empty between tenancies
Rent Arrears
Unpaid rent owed by tenant
Tenant Referencing
Background checks on prospective tenants
Guarantor
Person agreeing to cover tenant's rent if they default
Maintenance Reserve
Funds set aside for property repairs