What the guarantee limit is
The protection cap is the maximum amount that can be claimed under your guarantee. This is defined in your tripartite agreement and is based on the monthly rent and duration of your tenancy.
Standard limits
Rentmigo guarantees cover:
Up to 12 months of missed rent per tenancy
For up to 3 years
With a maximum aggregate limit of £100,000 per guarantee
What this means in practice
If your monthly rent is £1,500 and you miss rent for several consecutive months, your landlord can claim up to a maximum of 12 months' worth of arrears (£18,000 in this example), subject to the terms of the guarantee. The total amount claimed across the lifetime of the guarantee cannot exceed £100,000.
Rent increases and the cap
If your rent increases during the guarantee term, the covered amount adjusts accordingly, provided the cumulative increase does not exceed 10% of the original monthly rent. Any increase beyond this threshold is not covered.
Where to check your cap
Your specific details are stated on your full guarantee certificate, which is available to download from your tenant dashboard.