The Wharf: Home Front – August 26, 2010

Q. I’m a new Landlord currently trying to agree a let on my property, the Agent has suggested that I should take out some kind of a rental Warranty to protect me in the event of non rent payment and the tenant refusing to vacate. Do you think this is necessary?

A. Protecting your rental investment with a rental warranty that covers you for legal expenses and rental compensation is definitely a good idea and I would highly recommend this. As any experienced landlord will tell you, even if a tenant has good references, things can occasionally go wrong. Should the worst happen a rental warranty would provide peace of mind by covering your legal expenses and regaining possession of the property?

If your tenant should happen to suffer redundancy, divorce, separation or ill-health, it may no longer be possible to comply with the terms of the Tenancy Agreement:

The tenant may be unable or unwilling to pay the rent
The tenant may not move out at the end of the tenancy
There may be delays in regaining possession of your property
Disputes between yourself and the tenant may arise
It can take up to three months or more to regain possession of your property, during which time the tenant may not be paying any rent. But with the security of a warranty you can ensure the costs are covered. Most warranties cover for up to 5 month’s loss of rent as well as legal cover including court costs to obtain vacant possession following non-payment of rent.

“I have known Dawn in a professional capacity for a very long time, as we used to work together for a number of years. She has a comprehensive knowledge of the Docklands real estate market, but this is not her strongest point. What makes Dawn stand out as an agent is the effort she puts into every deal, the relationships she builds with everyone and the passion she has for what she does. Dawn and Gabriella have been managing my investment property for more than 3 years. I now live overseas and I feel so comfortable knowing they are really looking after my interest, whilst at the same time always being fair and transparent with the tenants. Nothing is big enough job for those ladies and everytime I say ‘thank you – I am so grateful for what you do’, the reply is ‘It’s my job’. I really cannot recommend this wonderful team enough!”

Daniela WeatherillOverseas Landlord

“We are incredibly happy with the service that Dawn Sandoval Residential provide. They offer a personal but very professional service, and we feel secure and confident with their management which is key when letting out a property.”

Amy Facey

“Dawn Sandoval Residential and associates have managed several transactions on our behalf, and each time they have gone above and beyond our expectations. We trust the team highly, and I honestly couldn’t recommend them enough.”

Neil Chinniah

“The Dawn Sandoval Residential team took the time to properly understand what I was looking for. At every stage of the process, I knew they were doing their best for me and valued me as a customer. I have no hesitation in recommending their services in the highest possible terms.”

Andrew Simmonds – Management Consultant

“Dawn Sandoval Residential offer a real personal service. Their response rates are excellent, and we have a sense that they care about our tenants and properties. We cannot recommend them highly enough.”

Cathy & Paul Betts

“Dawn Sandoval Residential have great insights into the property market in London and especially around Canary Wharf. They work very hard to understand their clients’ requirements, and we would highly recommend them.”

David & Ginette Marks