Research by BDRC Continental shows that in the past year, almost half of all landlords experienced some sort of tenant related issue or missed payment.
However, over the same period, fewer than 10% of landlords protected themselves against such issues.
Under this new initiative customers can benefit from insurance covering loss of rent up to £2,500 per month and providing up to £25,000 legal and advisor fees.
The policy, which is free to new TMW customers, allows landlords to protect themselves should a tenant be unable to meet their obligations.
Henry Jordan, managing director of TMW, said: “Peace of mind is particularly important for new landlords taking their first steps into buy to let and dealing with missed payments and/or tenant related issues are among their main concerns.
“Offering new customers the benefit of such cover is just one of the ways in which TMW is helping landlords approach their buy to let investment confidently and responsibly.”
Steve Jones, managing director Rentguard, added: “Rentguard are delighted to be working with TMW to provide new landlords with free rent guarantee and legal expenses cover to protect their investment; giving them increased peace of mind.”
