Homelet Rent Guarantee Insurance
If you are considering insurance to cover rent arrears and legal costs for eviction through the above co. you might be interested to know the following.
1. This Co. claims to be registered by the FSA and if you wish to register a complaint against them they insist that as such it can only be dealt with by the Financial Ombudsman Service. It then turns out ( after a 9 months investigation by FOS ) that as their policy is underwritten by a Co. called Propgen which is registered offshore and is outside FAS jurisdiction the complaint cannot after all be dealt with.
2. On their schedule they promise to pay 5 months rent and cover all legal costs incurred in evisting tenants. However, what they don't tell you on this policy schedule is that in the event of the tenant putting in a defence at the Court hearing for eviction your policy becomes null and void.
3. Homelet are supposed to reference tenants but their referencing service is a farce. They evicted my tenants who immediately went on to perpetrate the same scam as done to me i.e. trashing the property and not paying rent.
Incredibly Homelet under their " referencing service " then passed the very same tenants they had evicted from my property as suitable tenants for the new Landlord !
I would be interested to know whether any members have experienced any similar problems with this Co. and if so to e-mail me at email@example.com as I wish to have this Co. investigated by the office of fair trading.
Also my tenants from hell were a Mr. Bela Papp and a Beatrice Szabo so beware if these tenants approach you as they are scamming Landlords on a regular basis as well as fraudulently claiming housing benefit .
Want to read more?
This is a members only forum, if you want to read more you need to login to your membership, if you are not a member, click here to join.