HomeLet and Let Alliance have enhanced their rent guarantee products, with cover now available until vacant possession or up to 15 months, whichever comes first.

Other improvements include a doubling of the legal expenses cover from £50,000 up to £100,000, and cover should a tenant defend action be taken, meaning that they will continue to pay claims until the challenge has been resolved.

The changes to the group’s rent guarantee products, which will automatically be applied on 1st March 2021 for all new and existing customers, comes despite the evictions ban extension and the ongoing impact of the pandemic.

Andy Halstead, HomeLet and Let Alliance CEO, commented: “Just as we thought the worst of times were behind us as we said goodbye to 2020, here comes 2021 with more of the same. We find ourselves in total lockdown and the government have once again extended the eviction ban in the private rental sector.

“At the end of April this year, the governments furlough scheme ends, millions of people face uncertainty and potential redundancy. This time however there is light at the end of the tunnel, the vaccine roll-out has commenced, and all being well, we should get our lives back by the summer of this year. So, we have decided to act now in the best interest of our valued letting agent customers.

“This year we’ll complete one million references on behalf of the most professional letting agents in the UK. As market leaders, our underwriters and actuaries have access to unique data. Our rent protection scheme provides cover for over £1.2bn in annualised rent, for over 120,000 UK properties. We’re using our might to enhance our market leading products.”