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Eric Walker

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We have over 10,000 guaranteed rent properties. guess how many fit your description.... none.

From: Eric Walker 22 November 2018 15:09 PM

I am pleased that the ASA has addressed this issue. The provision of Guaranteed Rent differs hugely from the rent guarantee insurance offered by many agents and it’s crucial that landlords are properly informed. Transparency is key. Of bigger concern is that agents who sublet a property under a GR scheme are extremely unlikely to have the appropriate PI Insurance which would cover them in the event they are named as ‘landlord’ in any action. Most PI Policies have endorsements as letting agent and managing agent. The policy is most unlikely to cover an agent sub-letting where they are named as the landlord on an AST. In the event of, say, a personal injury claim this could have catastrophic consequences on all parties. We have a bespoke and exclusive policy not available elsewhere. Providing guaranteed rent of the type described above requires specialist knowledge and specialist PI Insurance; it’s not as simple as just sub-letting.

From: Eric Walker 21 November 2018 10:00 AM

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