What is included
Rentmigo acts as a corporate guarantor under a contractual Rent Guarantee Agreement. If a tenant falls into rent arrears during the agreed guarantee period, rent payments are made to the landlord in accordance with the terms of the agreement.
The agreement provides for:
Up to 12 months of rent arrears per tenancy
For a guarantee period of up to 3 years
A maximum aggregate limit of £100,000 per agreement
Rent increases
If the tenant's rent increases during the guarantee period, the agreement will reflect the increased amount provided the cumulative total of all increases does not exceed 10% of the original monthly rent. If the rent increases beyond this, Rentmigo's obligation is limited to a monthly rent amount that is 10% above the original rent declared at the start of the agreement.
What is not included
The Rent Guarantee Agreement does not extend to:
Damage to the property
Utility arrears
Council tax
Legal costs (other than those associated with eviction proceedings for rent arrears, where applicable)
Any costs unrelated to rent
These remain the tenant's responsibility and are typically addressed by the tenancy deposit and the landlord's existing processes.
Where to find the full terms
The full terms are set out in the Rent Guarantee Agreement signed by the landlord, the tenant, and Rentmigo. If you are unsure about what is included, refer to your agreement or contact our support team via live chat or at [email protected].