Conditions
1. Tenant referencing is a condition of this policy. 2. Generally it must be taken out at the start of a tenancy and the landlord must reference tenants correctly.
3. If the tenants stop paying the rent, claims on this insurance and it will pay out for a maximum of 15 months or until the end of the Tenancy period, whichever is the lesser.
4. Landlords and Tenants are encouraged to mediate and arrange an acceptable payment plan to catch the tenant up to date with their payments.

Affordability
A tenant(s) must be in current and permanent employment. You must ensure that the amount confirmed as their gross monthly income is equivalent to at least 2.5 times the monthly rent.

Adverse credit history
All CCJs, Bankruptcies and IVAs must be settled for at least three years.

Identification and income
Acceptable identification and proofs of income are photocopy of passport or driving licence. Confirmation of current income on employer’s letterhead.

Long standing tenants
If a tenant has been in place for greater than 12 months at the inception date of the policy the above checks will not be required provided there have been no breaches of tenancy and no late payments in the last 12 months.

Failure to meet above criteria
If a tenant does not meet the acceptance criteria a guarantor can be used who must meet the same requirements, except income multiple, which must be 3 times the monthly rent.

You choose your own reference agency
Unlike many other Rent Guarantee policies, with this policy you are free to choose the provider that works best for you.