HomeLet says it’s to issue all rent protection payments faster, meaning the money will reach agent accounts immediately, subject to banking hours. 

In addition, it will begin paying outstanding rent arrears upon receipt of a claim, subject to qualifying criteria. 

“By working with professional and reputable lettings agents, HomeLet and Let Alliance will massively reduce delays for letting agents and landlords – meaning fewer delays in receiving rents and management fees when they need to make a rent guarantee claim” says a statement from the firm.

Will Eastman, head of legal and claims at HomeLet and Let Alliance, says: “We are here to serve our customers and do everything possible to make their businesses successful. 

“Rent Guarantee claims are increasing, and we will undoubtedly see more claims throughout the winter as the cost-of-living crisis worsens and the energy price cap is set to increase. 

“As the largest provider of Rent Guarantee insurance in the UK, we can make claims payments immediately upon receipt. We have the resources to support our customers, who are at the heart of everything we do.”  

HomeLet and Let Alliance currently protect over £1.2 billion of rental payments through their Rent Guarantee policies on behalf of over 6,500 UK letting agents.