We can offer an insurance scheme, 'Safety-Let' at a substantially discounted rate, which will provide you with a high degree of cover in relation to the cost of solicitors, court fees, debt recovery costs and unpaid rent.

If you require the 'Safety-Let' insurance this is offered with the 'full management service' but please note we are unable to offer the insurance to Landlords who collect their rent monies direct from the Tenants. The details of the scheme are as follows.

Safety Let Rental Warranty Insurance

What is Safety Let?

A specialist form of insurance and risk management service to protect Landlords when letting their property for residential occupation by selected Tenants.

What does Safetylet Cover?

• Unpaid rent during the Tenancy Agreement.
• Legal proceedings against Tenants and squatters.
• Alternative accommodation expenses while possession of the Landlord's property is being obtained.
• A Vetting Service prior to Tenants' occupation.
• A Tracing Service where Tenants have absconded.
• Defence of Prosecutions (e.g. under Furniture (Fire) and Gas (Safety) Regulations against Landlords.

What Problems Can Safety-Let Solve?

The Housing Act 1988 has gone a long way to giving landlords the right to get back their property. However, to achieve this it may be necessary to take Court proceedings. These can cost between £800. - £1200 even in a straightforward case. They can also be lengthy owing to the delays in the legal system due to the work load of the County Courts. There were 104,408 re-possession cases entered in the County Courts in 1995 for rented property (an 8% increase since 1993). In addition, some tenants (and their advisers) use the legal system to their advantage. Some of the problems that Tenants can cause are:-

• Failing to pay rent through loss of employment, business failure or the desertion of a partner.
• Failing to leave at the end of the tenancy - sometimes on outside advice to "stay put" until finally evicted by the Bailiff.
• Causing damage to the property and the furniture and effects or even removing the contents.
• Carrying out unauthorised re-decoration or repairs, keeping pets contrary to the terms of the tenancy, causing nuisance to neighbours or failing to take precautions to protect the property in winter.

What Service do you get?

Like most legal matters, the Housing Act 1988 is not straightforward. Simply Lets who operate Safety-Let have the details and expert knowledge so as to ensure that your interests are fully protected.

In addition, Simply Lets have

• The support and advice of Glenburn, a firm of Insurance Brokers, who are the foremost specialist in this type of insurance cover for landlords and of DAS Legal Expenses Insurance Co Ltd who are a leading Underwriter for this class of business.
• Access to Solicitors and Barristers who are experts in the law relating to landlord and tenant.
• The services of Tracing Agents - their success rate is currently approximately 70%.

What does Safety-Let cost?

The cost is based on a percentage of the rental income - your Simply Lets will advise you as to the rate applicable to the area in which your property is situated.

The cost is probably considerably less than that of your building or motor insurance. Considering the peace of mind it will bring, the cost is minimal.

What would it cost if you did not have Safety-Let?

When considering the cost of Safety-Let, you should consider your financial problems that would arise if you had several months of unpaid rent and a heavy legal bill.

Claims

Like all insurance policies, Claims are subject to various conditions and exclusions. Details of the principal areas of cover and the main conditions and exclusions are available on request from Simply Lets.

Cover for proceedings against squatters in unoccupied property is also available.

Terms of Cover

The policy indemnifies the Landlord in respect of legal costs and expenses, loss of rent and alternative accommodation expenses following a tenant's default on the Tenancy Agreement

The areas of cover are as follows

• Rent arrears and unpaid rent for the remaining term of the period covered by the Certificate of Insurance
• Eviction in the event that it becomes necessary to evict the Tenant owing to either rental arrears or other default by the Tenant
• In the event of other disputes between the landlord and the tenant insurers will provide a legal service
• In the event of a landlord being prosecuted for an offence arising from his letting the property insurers will pay legal costs of defending such proceedings

For cover for buildings and contents ask for a brochure.