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FCC Paragon releases new product to further enhance their portfolio
Added on: Thursday, October 29, 2009 (00:00 AM)

As a landlord in this current economic climate, it is vital that steps are taken to minimise risks to income and investments. We are all too aware of the widely reported hike in repossessions, unemployment figures and the general doom and gloom in the economy which the media portrays. Landlords can’t be blamed for feeling slightly uneasy about renting out their property.

Issues such as a tenant defaulting on rent or absconding are all potential problems, no matter how trustworthy and well behaved the tenants seem to be, there is no guarantee that these things won’t happen. Consequently, this can cause a great deal of stress and take time and money to resolve, leaving landlords out of pocket and possibly in mortgage arrears.

There are many laws and regulations out there protecting the tenant, but not much is done to help protect a good landlord from a bad tenant. Tenant Referencing is a logical and sensible option for a landlord but however stringent, it cannot protect against unforeseen events such as marriage break up and redundancy etc. That’s why FCC Paragon have decided to enhance their existing portfolio of products to help provide landlords and letting agents with the peace of mind they are looking for when renting out a property. The new Rent Protection & Legal Expenses Warranty + is an enhancement to their existing warranty product and will ensure rent arrears have a minimal impact on landlords as the first months unpaid rent is covered, meaning there is no exclusion period should a tenant not pay.* We would all like to be in a situation where we can afford to cover the first months unpaid rent until a policy pays out, but in reality how many people are? Unlike many other rent guarantee policies the Warranty + provides comprehensive protection for a landlord. FCC Paragon recognised that in the midst of a recession most landlords are stretched to the limit and cannot afford to cover exclusions when an arrears situation arises. For only a small additional premium (compared to the original warranty product) landlords can be safe in the knowledge that they are not going to have to overstretch themselves should a tenant default on rent.

For more information on the Rent Protection and Legal Expenses + Warranty please call 0844 375 9604.

*All payments under the Rent Protection & Legal Expenses Warranty + are subject to the terms and conditions being met
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Paragon Investment Properties is not a regulated or licensed investment or financial advisor. Whilst we endeavour to provide accurate, up to date and complete information, we make no warranties or representations as to the accuracy, reliability or completeness or otherwise of the information and assume no responsibility or liability for any omissions or errors. As such, all information provided by Paragon Investment Properties should only be regarded as an indicator and a general guide and should not be relied on as a statement, recommendation or representation of fact. Any interested parties are advised to satisfy themselves as to the accuracy on any information they receive by carrying out independent assessments or otherwise before making any commitment to participate.