Guaranteed Rent for Landlords

RGI covers you against loss of rental income from tenants not paying their rent. It also includes cover for the legal costs if eviction is required. In short, RGI substantially decreases the financial risk of being a landlord.

RGI covers landlords with monthly rental amounts of up to £3,000 whose applicants have passed comprehensive tenant referencing.

For a small one-off fee you can protect your rental income in the event of an issue such as the tenant defaulting on their rent.

All tenants must be referenced through OpenRent against our ID, credit and affordability criteria. Affordability can be met by a tenant alone, by the tenants' combined income, or by a guarantor covering a tenant's share. A tenant who fails our credit criteria, or who has no credit history, may still be covered where a qualifying guarantor is in place. Referencing must have been completed in the last 90 days, or it needs re-ordering. RGI isn’t available to live-in landlords.

When you are purchasing RGI for a new or existing tenancy, referencing must have been completed within the last 90 days otherwise it will need to be re-ordered.

You can buy once referencing is complete and the eligibility requirements are met, including after the tenancy has started. Please note that if you buy more than 7 days after the tenancy begins, a 60-day waiting period applies before you can claim for a new issue, unless you had equivalent rent and legal cover in place immediately beforehand with no gap. Buying before the tenancy starts, or within the first 7 days, means you're covered from the start with no waiting period.

If you have any questions about the specifics of your policy, we advise checking your policy schedule or reading the policy wording and product information.

There's no excess if you report rent arrears within 45 days of the first missed payment. Report after 45 but within 90 days and an excess equal to one month's rent applies. Report more than 90 days after the first missed payment and the rent arrears claim can't be paid. It always pays to inform us as soon as possible

Rent Protection will apply at the higher rent if your tenant passes an OpenRent reference for the higher rent, if an existing OpenRent reference and approved affordability evidence already show they can afford it, or if the increase stays within the policy's permitted uplift. That uplift is no more than 5% a year, and no more than 20% in total, above the affordability shown in your tenant's OpenRent reference.