Despite every care taken with the letting and management of a property, the unexpected can happen. A tenant may be unable to pay the rent due to redundancy, accident, sickness, divorce, or even death. Not only might you suffer a shortfall in rental income but also legal costs are inevitably involved when a tenancy agreement is breached. Disputes can arise between landlords and tenants, for example, bringing action for unauthorised alterations to a property or unauthorised use of the property. Perhaps a tenant might withhold rent due to alleged deficiencies connected with the premises.

The MARAS Rental Guarantee & Legal Expenses policies are only available through letting agents registered with MARAS. These policies are available for both managed and let-only properties. The policies are underwritten by Pinnacle Insurance plc, a specialist creditor insurance company boasting a client portfolio which includes major banks, building societies, credit and retailer cards, and finance houses.

The benefit of MARAS Rental Guarantee & Legal Expenses insurance is that legal experts can be brought in at the onset of a problem. This means that matters can be resolved quickly; if necessary, the property can be swiftly re-let and in the meantime, the landlord will have had the benefit of free legal advice, legal action and rental guarantee.