Lettings transaction platform Goodlord is branching into rent protection with a product that can be integrated into the company’s app.
“Agents can protect their income and landlords’ income. It offers agents the ability to provide a suite of products, adding new and scalable revenue opportunities to their business” says Oli Sherlock, commercial insurance lead at Goodlord.
The product, which has already undergone two months of trials, includes options such as legal expenses cover with £100,000 of legal expenses cover should the tenant need to be evicted; a rent protection cover which has levels from up to £2,500 to a maximum of £15,000 per month for up to 12 months; and a vacant possession option offering up to 75 per cent of the monthly rent paid for up to two months after eviction.
Goodlord’s existing platform allows letting agents to digitise the moving-in process through the use of e-signatures and online collection of money so that tenants can agree and pay for a letting through a cloud-based app.