By: Mike White of Martin & Co Lettings
Who does your letting agent use for their tenant referencing and rent guarantee products? The question needs to be asked when you hear that LetSense, the residential insurance provider set up at the end of 2008 has announced it is shutting up shop on December 7. The company was launched with products for tenant referencing and rent and legal protection insurance services for letting agents. The tenant referencing part of the letting process is a key element to ensure you have good quality tenants occupying your property and it is essential therefore your agent is using a reliable referencing company. Additionally, existing landlords are increasingly buying rent and legal protection policies owing to the uncertainty within the employment and financial markets to cover themselves against the risk of tenant default; they will wish to be assured that there is substance to these policies. In our view, at Martin & Co, we feel having a rent guarantee is essential but clearly they’re only of any use if the providers are there to call upon if needed.
*Mike’s at Martin & Co on 01603 766860, at 13 St Giles Street Norwich