A new range of products and services specifically designed for letting agents and landlords has been launched by The Source Insurance.
Its SourceLet tenant referencing service costs from £6 per reference.
The firm said that the system interrogated more than 25 different data sources in less than 30 seconds to produce a detailed and accurate tenant reference. The technology incorporates real time claims experience, helping to identify a tenant’s propensity to default.
Meanwhile, the tenant referencing service is backed up with a range of specifically designed insurance products through its panel of leading insurers.
This includes rent guarantee which covers up to £50,000 of unpaid rents and legal expenses. Key benefits include six or 12-month cover options, protection against civil nuisance and unlawful use situations, and cover until vacant possession is obtained. Nil excess is available and SourceLet’s rent guarantee also provides agents and landlords with the first right to the deposit if the tenancy gets into a claim.
Source managing director, Kevin Paterson, said: “We’re combining our many years of providing landlords insurance with our reputation to deliver service that is second to none and topping that off with cutting edge technology to give letting agents the competitive products they need backed by a service they deserve.
"SourceLet provides a tenant reference tool that is fit for purpose and a range of insurance products for landlords and tenants that will enable letting agents to generate valuable new income streams.”