Rent & Legal Protection | Fuchsia Homes

Rent & Legal Protection

Why Rent Guarantee? A Landlord’s Journey

The value of Rent Guarantee is never better demonstrated than understanding the cost when an unprotected tenancy goes wrong. Our example is based on a rent of £700 per calendar month, due on the 1st monthly.

A Fuchsia Landlord with Rent Guarantee A Landlord without Rent Guarantee
On 1st February the tenant stops paying rent On 1st February the tenant stops paying rent
Fuchsia Homes chases the tenant for the rent but no rent is paid Your letting agent chases the tenant for the rent but no rent is paid
Fuchsia Homes continues to pay your rent once the rent is outstanding for 1 month, and continues to pay your rent monthly in arrears until vacant possession is obtained Your letting agent cannot pay your rent as no rent is received, but your monthly commission is still due to your letting agent
On 1st March a Section 8 (or appropriate regional legal notice) is served to evict the tenant On 1st March a Section 8 (or appropriate regional legal notice) is served to evict the tenant – there is a fee for doing this
Fuchsia Homes inspects the property to check if the tenant has gone Your letting agent inspects the property to check if the tenant has gone
The tenant didn’t leave when requested The tenant didn’t leave when requested
Fuchsia Homes works with the Let Alliance solicitor partners to get a court date Your letting agent advises you to appoint solicitors to evict the tenant
Fuchsia Homes goes to court with the solicitor to get the tenant evicted Your letting agent goes to court with your solicitors to get the tenant evicted - there is also a fee for doing this
Fuchsia Homes checks the property for vacant possession – the tenant still hasn’t left Your letting agent checks the property for vacant possession – the tenant still hasn’t left
Fuchsia Homes contacts the solicitor partner to request bailiffs Your letting agent advises you to contact your solicitors to appoint bailiffs
Fuchsia Homes meets with bailiffs at the property with a locksmith and secures the property Your letting agent meets with bailiffs at the property with a locksmith and secures the property
Fuchsia Homes completes a check-out report and deducts any damage caused by the tenant from the deposit Your letting agent completes a check-out report but cannot deduct any damage caused by the tenant from the deposit, as it has all been used for rent arrears
Fuchsia Homes can now re-let the property You will need to ensure the property is in good repair for the property to be re-let

Total landlord cost for eviction: £0

Total landlord cost for eviction (including bailiffs): £1,500

Total loss of rent while the property is occupied: £0

Total loss of rent while the property is occupied: £4,900

(on average 6 to 8 months)

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