Welcome to Rentguard News, here you’ll find the low-down on all the latest goings-on at Rentguard, including any changes to policy, personnel or industry legislation, as well as information on new products, rates, promotions and upcoming events.

www.rentguard.co.uk

info@rentguard.co.uk

Tel: 020 8587 1060

Twitter: @Rentguard

ISSUE 13 - APRIL 2015

RGA LAUNCHES NEW COMMERCIAL RANGE

Please rest assured that any post sent to our Grove House address will be forwarded on to us on a daily basis.

Further to this, all documentation with the Grove House address on it will remain valid as we will still be utilising these premises for the foreseeable future.

We would be grateful if you could use our new address moving forward however.

SAME GREAT SERVICE, NEW LOCATION!

Rentguard is pleased to announce its relocation to our new offices in Brentford, South West London.

As part of our expansion, we will now be occupying 15,672 Sq Ft of space in an impressive new complex, after saying a fond farewell to Grove House in Isleworth – our home for the past 12 years.

Our new correspondence address is: 27 Great West Road, Brentford, London, TW8 9BW.

Should you require any further information on this matter, please contact your Relationship Manager.

With over a decade of experience in the Buy to Let and Property Owners Insurance market, RGA Underwriting Ltd are pleased to announce that we are now expanding our range to offer full commercial business insurance.

We have developed a diverse range of insurance covers for small to medium sized UK businesses with competitive prices and levels of commission on offer.

You can get highly competitive rates and generous levels of commission on the following business types:

SHOPS √

OFFICES & SURGERIES √

RESTAURANTS & PUBS √

HOTELS & GUESTHOUSES √

PROFESSIONAL INDEMNITY √

TRADESMAN TOOLS, CAR AND LIABILITY √

COMMERCIAL COMBINED √

AND MANY MORE! √

With an experienced team of commercial handlers working with a dedicated panel of leading commercial underwriters, we have access to a number of exclusive Lloyd’s market binders.

Call 0208 587 1060 for more information or email commercial@rgau.co.uk and one of our friendly team will contact you to arrange a quotation.

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ISSUE 13 | APRIL 2015

We have recently increased our underwriting capacity to be able to cover sums insured of up to £30 million, so if you are looking to place high-net worth risk, then look no further than Rentguard!

Don’t forget that we are also now offering non-standard landlord and owner occupier insurance as well as property refurbishment insurance.

The policy provides cover for a home during the period of any rebuilding, refurbishment or construction works, including the building’s structure, the contract works, the home contents and the homeowner’s liability exposures.

To find out more about these fantastic niche policies call 0208 587 1060 today.

Rentguard are proud to once again be

WE COVER UP TO £30 MILLION SUM INSURED

BIBA 2015 – GET A REFRESHING VIEW OF PROPERTY INSURANCE THE RENTGUARD ICE ANGELS!

exhibiting at BIBA 2015 which takes place at Manchester Central on May 13 & 14.

The two day event brings together insurance brokers from across a wide range of sectors, giving them a chance to build trading relationships, as well as sourcing new business.

Come and visit us at stand C68 to meet our team and discuss what we can do for you. Our Ice Angels will also be back by popular demand providing delicious ice creams made using liquid nitrogen - so come and join us for a refreshing treat!

Click here to register as a visitor for the event.

We are using the customer review system Trust Pilot to help monitor and improve our service and products. Customers who purchase insurance will automatically receive an email from Trust Pilot inviting them to rate us. Brokers and letting agents wishing to review our services can also do so at www.trustpilot.co.uk/ review/rentguard.co.uk.

Our TrustScore currently stands at an 9 out of 10!

JUST A REMINDER

ISSUE 13 | APRIL 2015

HOW WILL GOVERNMENT PLANS TO ALLOW SUB-LETTING AFFECT LANDLORD INSURANCE?

Hidden away in the small print of the 2015 Budget, under the heading “support for the sharing economy”, was a clause allowing tenants greater freedom to sub-let.

The wording made it clear that forthcoming government legislation would make it illegal for private landlords to include clauses in tenancy agreements which ruled out sub-letting or the sharing of space on a short-term basis.

Private Rented Sector experts such as the RLA and Landlord Action, were quick to express their grave concerns over the plans, describing it as ‘nightmare in the making’ and predicting that it will “throw up a magnitude of problems in the buy-to-let industry’.

Key questions remain unanswered from a landlord’s point of view, such as who will be responsible for a property if the tenant sub-letting leaves the house, but the tenant they are sub-letting to stays?

The Government also wants

HOT TOPIC

landlords to check the immigration status of their tenants, something which will prove difficult if they are no longer fully in control of who is in their properties.

From an insurance point of view, sub-letting also throws up problems, rating structures for Landlord Insurance are based on the tenant type, among other factors, with insurers attributing higher risk for students tenants than they would professionals, for example.

“How can a landlord be expected to disclose the details of his tenants, and answer the risk question accurately if they no longer have the final say on who occupies his property?” says Steve Jones, Director of Rentguard Insurance.

“The real problem would come if underwriters decide to charge the higher rate to everyone to factor in the likelihood of damage cause by tenant’s subletting the property,” Jones adds.

Problems may also arise in that tenants are unlikely to put those

they chose to sub-let to through a professional referencing process and may know very little about them, their lifestyle, background and ability to regularly pay the rent.

“It remains to be seen if the government will think this move after the backlash it has faced from the Private Rented Sector, but at the moment it is hard to see who this new ruling benefits – other than tenants looking to rip-off hard working landlords,” Jones concludes.

IN EACH ISSUE WE LOOK TO ADDRESS THE BURNING ISSUES AFFECTING THE PROPERTY INSURANCE MARKET

RENTGUARDINSURANCE

ISSUE 13 | APRIL 2015

30 SECONDS WITH… NICK BURCHELL – RELATIONSHIP MANAGER

How long have you worked at Rentguard?Nearly 3 Months, thoroughly enjoying it so far!

Rentguard remains focused on providing a quality service to its business partners, their clients and customers.

In order to reinforce our commitment to excellence and further meet your needs, we welcome feedback and suggestions from our clients.

Please email info@rentguard.co.uk with your views.

Rentguard

What is the thing you enjoy most about your role? Talking and negotiating with brokers on a daily basis

What is the most challenging part? Making sure that new brokers are taken care of and are aware our entire product range

Where did you work before Rentguard? Doing administration for a photography studio

Who would play you in the Hollywood movie of your life and why?Idris Elba because I used to work with him!

What is your favourite food? Curry

What’s your favourite drink? An ice-cold Grolsch

Favourite holiday destination?Indonesia

Favourite football team? Arsenal

Favourite book? Shantaram - Gregory David Roberts

How do you like to spend your spare time? Listening to music and socialising with friends.

UNTIL NEXT TIMEHAVE YOUR SAY

Click here to register your response!

We’ve introduced a new Have Your Say survey feature to the Property Eye section of our website. It only takes five seconds to complete and will allow us keep on top of what landlords are really experiencing in the private rented sector.

The first question we are asking is:

How old were you when you first became a landlord?

YOU CAN CONTACT NICK ON:nick.burchell@rentguard.co.uk

RENTGUARDINSURANCE