Just Letting landlords opt for risk-free rentals
Category Residential Letting
In a further effort to remove the risk of non-paying tenants from the lettings equation, more and more landlords are signing up for rental insurance. A growing trend that is confirmed by the recent statistics released by national rental and management specialists, Just Letting. The company has seen a marked increase in the uptake of its RentSecure product which provides landlords with an automatic rental guarantee that covers legal fees and rental payments against non-paying tenants.
In order to qualify for RentSecure a tenant’s income, credit record etc. are verified. Yet Just Letting has seen a whopping 22.44% increase in RentSecure applications being approved in the last financial year, with KZN leading the pack. “There are many quality tenants out there and we go to great lengths to ensure that those renting through us meet our criteria. But even the best tenant vetting cannot protect against a tenant being retrenched or other loss of income that is why we deem RentSecure such a necessary product. And it seems our landlords agree,” says John Roberts, CEO of the Just Property Group – holding company of Just Letting.
“When we first introduced the product to the local market the concept of safeguarding your rental income was relatively new,” explains “But soon landlords started to realise that the benefits of RentSecure were not limited to only securing rental income and in the last year most of the landlords signing with Just Letting has opted to make use of it.”
Apart from receiving the full monthly rental in case of a defaulting tenant, even legal fees incurred during an eviction process are covered by RentSecure up to R100 000 and a percentage of the monthly rental will be paid to the landlord to repair any damages, should that be necessary.