Hi All,
I have been letting a flat with OpenRent since October of last year and everything has been great so far but I have a question regarding the continuance of Rentguard insurance past the end date of the original tenancy.
My tenants did not have the greatest credit references so they provided me with a suitable guarantor who was acceptable to the referencing agency used by Rentguard which enabled me to purchase ‘loss of rent’ and ‘legal fees’ insurance.
Hopefully the tenants will stay a long time, at least past the 1 year tenancy agreement term, and so I am wondering how best to organise an extension of the Rentguard insurance.
I have no intention to increase the rent and so am minded to allow the tenancy to become periodic. Will it be possible to do this and to renew the Rentguard insurance at the same time?
Will the tenants and guarantor need to be referenced again, or would it just be a case of paying Rentguard the required premium?
Chris