Monthly Archive February 2018

Do you have a Plan B to cover your rent?

2018 is shaping up to be a year of uncertainty for both landlords and tenants when it comes to costs and managing finances. 

New research from insurance company, Royal London has revealed that 5.8 million working private renters don’t have a plan B in place to cover their rent if they or someone in their household became ill or were victim to unforeseen circumstances where they were unable to earn an income for three months or more. 

Royal London Survey

Royal London surveyed over 2,000 working adults and worryingly almost half (48%) of these people have no idea how they would cope financially if they couldn’t work. 

The survey revealed that  

  • over a third (39%) of working renters have no savings at all, compared with around a quarter (23%) of the wider population.
  • Nearly three in five (58%) of renters have less than £2,000 in savings.
  • The average amount of debt per renter is over £4,600; nearly a third (32%) of working renters owe between £2,000 and just under £10,000 with 14% owing £10,000 or more.

Not only do renters need to consider how they would pay their rent due to ill heath, they would also need the money to pay the debt if they couldn’t work. 

Working renters were asked what steps they would take if they were ill and couldn’t work for three months or more. 

  • Almosthalf (48%) would apply for state benefits.  
  • Just under half (45%) said they would reduce their household expenses.
  • Around a third (36%) said they would use their savings.

What does this mean for 2018?

With tenants finances uncertain and little to no contingency put in place, it seems highly likely that more and more landlords will experience rent arrears in 2018. 

This is where Rent My Home Today comes in. 
While tenants are struggling to find a “Plan B” if they can’t afford to pay the rent, landlords now have a “Plan A” and that is our market-leading guaranteed rent for 3-5 years with free property renovation. 

Rent My Home Today services are trusted by many landlords and we simply deliver.   

  • Rent My Home Today will pay the rent on time every month, whether the tenant pays or not, and whether the property is void or not.
  • Our maintenance & repairs scheme covers you for all repairs on your property during the rental term.
  • Guaranteedrent to landlords for 3-5 years and you will have complete peace of mind that your property portfolio is being managed by a reliable, professional and trustworthy company. 

We will give you a personalised quote for your property that is higher than the true rental cost of renting your home through an letting agency. 

When assessing whether Rent My Home Today is right for you, you should take into account the following…… 

  • Potential voids. 
  • No anxiety about rent being paid on time.   
  • If you’re a busy landlord who simply wants to “let and forget “and aren’t in the area of your property often, then we provide competitive and guaranteed rent for 3-5 years with free property renovation  
  • Zero agency fees – no voids or agency deductions providing you with complete peace of mind.

Click to compare Cavalieri Rentals with other Guaranteed Rent Schemes

As we touched upon earlier, some tenants may not have a Plan B if their circumstances change and they can no longer afford the rent. Landlords now do, if you use Rent My Home Today. 

Let’s make rental arrears and voids to be a thing of the past in 2018; we are your “Plan A”. 

Tell us your plans

We’d love to hear about your plans, or to make a Plan A together please get in touch using the form below…