House for let

Property Let insurance for landlords

Owning rental property offers financial and lifestyle benefits but on occasion landlords can be faced with complex and costly situations. In 2014 the PRTB received 1298 applications for dispute resolution, of which 63% were for rent arrears.

With mortgage payments to meet, the risk of tenants not paying rent can cause significant worry around increasing costs and the legal process ahead.

PROTECTING LANDLORDS’ ASSETS AND INCOME

If landlords are faced with tenants refusing to pay rent, DAS Property Let will pay rent arrears for up to 6 months while the tenant still occupies the property and if the tenant vacates but the property is left damaged requiring remedial work, we will pay 50% of the rent for up to a further 3 months whilst the landlord repairs the property.

PEACE OF MIND

Alongside this, we will help landlords to remove problematic tenants by guiding them through the PRTB process and paying any associated legal costs, helping them to re-let the property as quickly as possible.

KEY CONDITIONS

  • Landlords must always follow the PRTB dispute resolution process.
  • For Repossession cases landlords must have given the tenant the correct notices, explaining that they want possession of their property and the case must have more than a 50% chance of succeeding.
  • For Rent Arrears cover, landlords must have obtained satisfactory tenant references and had a claim accepted by us to help repossess the property. We will only cover rent up to a maximum of €3,000 per calendar month.

For full benefits and exclusions please read our policy wording and key facts document.

Case Insight – Repossession and Rent Recovery 

A policyholder’s tenant was refusing to pay rent and would not leave the property at the end of the rental period. We helped our policyholder by appointing a solicitor who took action to recover the unpaid rent and remove the tenant from the property.

The case went to court where the tenant offered to pay the overdue rent in installments. The appointed solicitor rejected this offer and the tenant agreed to pay the rent he owed in full and to leave the property at the end of the rental period. We checked that the tenant left the property as agreed and we paid over €1,500 in legal costs.