Trashed House and No Rent! What Can Gravesend Landlords Do?
A tenant stops paying rent, months pass without income and court delays drag on. Eventually a landlord regains possession, only to find the property needs repairs before it can be re-let. Here we look at what we can do.
In this blog, we’re looking at the true cost of a problematic tenancy and why Rent Guarantee Insurance has never been more important for Gravesham landlords.
Most landlords worry about tenants not paying rent, however, what many don't consider is what happens after the tenant finally leaves.
With the introduction of the Renters' Rights Act and the abolition of Section 21, landlords are facing a very different rental landscape. Regaining possession of a property is now likely to take significantly longer than many landlords have experienced in the past.
Imagine this scenario:
- A tenant stops paying rent.
- Arrears continue to build.
- Legal notices are served.
- Court proceedings are required.
- Possession is eventually granted.
- Bailiffs are instructed.
- The tenant finally leaves.
At this point, many landlords understandably breathe a sigh of relief.
Unfortunately, the financial pain may not be over.
The Hidden Cost Many Landlords Forget About
When possession was eventually gained in a recent case of ours, the property was unfortunately not in a lettable condition. Additional maintenance and repair works were required before the property could be marketed again and a new tenant could move in.
This is something many landlords overlook when considering the financial impact of a problematic tenancy. The cost doesn't necessarily stop when the tenant leaves.
You may have already suffered:
✅ Months of lost rent
✅ Legal expenses
✅ Court fees
✅ Mortgage payments without rental income
✅ Maintenance and repair costs
And now you may be facing:
❌ A vacant property producing no income
❌ Contractor costs
❌ Decorating and cleaning bills
❌ Time spent finding a new tenant
Could You Afford 12 Months Without Rent?
Under the new legislation, possession cases can take many months to resolve. The question every landlord should ask themselves is:
If my tenant stopped paying rent tomorrow, could I comfortably continue paying the mortgage, insurance, maintenance costs and legal fees for 12 months or more without receiving any rental income? For many landlords, the honest answer is no.
How Rent Guarantee Insurance Can Help
At M&M Estate & Letting Agents, our Rent Guarantee and Legal Expenses Insurance has been designed to provide landlords with valuable peace of mind.
Our policy includes:
✅ Rent payments covered if a tenant falls into arrears (up t £2,500 a month)
✅ Legal expenses covered (up to £100,000)
✅ Court costs covered
✅ Eviction costs covered
✅ Up to 15 monthly rent payments whilst the tenant remains in occupation
✅ Zero excess
But there is another benefit that many landlords don't realise exists.
Vacant Possession Cover - Our Rent Guarantee Insurance includes Vacant Possession Cover.
This provides landlords with up to 3 months' cover at 75% of the rental amount after possession has been obtained.
This means that if you regain possession and the property requires repairs, cleaning, decoration or other works before it can be re-let, you may still receive an income whilst those works are completed and a new tenant is found.
In our experience, this can be an invaluable benefit and one that many landlords only appreciate when they actually need it.
Prevention Is Always Better Than Cure
Every tenancy starts with the best intentions. Most tenants pay their rent on time and look after the property. However, all it takes is one tenancy to go wrong and the financial consequences can be substantial. With longer possession times, increased regulation and rising costs, Rent Guarantee Insurance has never been more important for Gravesham landlords.
Want to Know More?
📞 If you're unsure whether you currently have Rent Guarantee Insurance in place, or would like to discuss taking out a policy, we'd be happy to help.
📍 M&M Estate Agents, Gravesend, DA12 1AH
📞 01474 321957
📧 lettings@mandmprop.co.uk