Letting agents using rent protection and legal expenses insurance via Goodlord will have their rent protected until vacant possession, with no cap on the number of months covered.
This will allow claims up to £100,000 for missed rent payments and legal expenses.
The extended coverage begins on November 1 and is being offered for the same price as the current policy. It’s available to existing and new customers, and on renewals and transfers from other providers.
Goodlord says it recognises that, while notice periods might have returned to pre-pandemic levels, the eviction process remains slow. Thanks to a backlog of cases dating from before the pandemic, the continuation of Covid-19 review hearings, and an increase in the number of eviction instructions since the end of the eviction ban, landlords and agents can be waiting for months for a resolution.
Eviction instructions have soared by 43 per cent between June 1 this year - when the eviction ban ended - and September1 , compared to the same period in 2019, according to Landlord Action.