A guarantor company says landlords may fail to understand the advantages of using services such as those it provides.
Housing Hand says landlords mistakenly believe they won’t continue to receive full payments should a tenant not be able to pay.
The firm’s managing director, Jeremy Robinson, says the service his and similar companies offer deliver ”a triple set of benefits” with landlords, agents and tenants benefiting from greater protection.
He says the benefit for landlords is “immediately apparent” with the guarantor company paying 100 per cent “of all valid claims” and adds that both landlords and agents continue to be paid in those circumstances, even if the tenant does not pay.
Robinson insists that in the current circumstances such a guarantor is more important than ever.
He adds: “There are many different risks and priorities for landlords, agents and tenants these days. The economic impact of the pandemic is already starting to bite and is sadly likely to get worse as we head into 2021.”
Group operations director Terry Mason says: “We’ve spent nearly eight years now proving that the guarantor company model is the safest approach for tenants, landlords and agents. All three key stakeholders benefit from knowing that they will be protected from financial loss and from the incredible stress of an eviction process. The more the mutual benefits are understood across the private rented sector, the better it will be for all concerned.”