Rent safety net of­fer to ten­ants

Kentish Express Ashford & District - - Lettings -

Kent es­tate agent is to be the first in the coun­try to of­fer ten­ants an in­sur­ance pol­icy which pro­tects them against the fi­nan­cial im­pact of los­ing their job through re­dun­dancy, sickness or ac­ci­dent. Your Move be­lieves that many would-be buy­ers are now turn­ing to the rental mar­ket be­cause they are find­ing it harder to get a mort­gage and the com­pany saw a 65 per cent rise in de­mand for rented ac­com­mo­da­tion be­tween Au­gust 2007 and Au­gust 2008 alone. Be­cause of this, it now has a pol­icy aimed at peo­ple in rented ac­com­mo­da­tion who, al­though they aren’t home­own­ers, could still face sig­nif­i­cant fi­nan­cial hard­ship, should they lose their job. “It’s quite com­mon for home­own­ers to take out in­sur­ance poli­cies that pro­tect their mort­gage pay­ments, for ex­am­ple, should they sud­denly be­come ill, have an ac­ci­dent or lose their job but it’s some­thing many ten­ants sim­ply don’t think about be­cause they don’t have a mort­gage, said Mar­ion Bell of Your Move Let­tings, Can­ter­bury. “Wor­ry­ingly, how­ever, if they did lose their job they would still be ex­pected to pay their rent and land­lords would be within their rights to even­tu­ally evict them if they didn’t. “Yet we’re not sure that ten­ants have thought about this. “As a re­sult we’re ac­tively pro­mot­ing an ac­ci­dent, sickness and un­em­ploy­ment pol­icy to ten­ants – we’re the first let­ting agent to do it but feel, with the in­creas­ing num­ber of peo­ple choos­ing to rent rather than buy, that it’s our re­spon­si­bil­ity to do so. “Ten­ants can re­ceive, for ex­am­ple, an in­come of £600 a month for one year by pay­ing a pre­mium of 22 a month – that’s less than £6 a week. “And, of course, they can choose the amount of ben­e­fit and the length or time they re­ceive it for – so it could be even cheaper” If you’d like to find out more about ASU Cover from Your Move or to gain a free, no obli­ga­tion quote, sim­ply con­tact Your Move by call­ing 01227 453662.

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