Guaranteed Rent
Some landlords may have come across what guaranteed rent is and some may not. Guaranteed rent provides landlords with piece of mind that they will know exactly how much their properties will turn over each year without any hassle, nor pay for any additional fees. Thus, negating the need for management fees, maintenance costs and refurbishment cost at the end of the tenancy.
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Gone is the fear of late or non-payments by tenants. You as a landlord will have the confidence that payment even if your property is empty. This in turn will allow landlords to financially plan ahead.
With Guaranteed rent, we in effect become your tenant. As we will pay you on the same day of every month for the agreed period of 1 to 5 years, with or without the property being tenanted you have no worries over payments.
How does it work?
Why Guarantee Rent?
· You may achieve a higher market value using an estate agent to manage your property. However, this extra rent will be soon eaten into as estate agents will typically charge 10-15% management fees plus VAT. Also, as a landlord you will be required to pay for set up fees ranging from £250-£750. Opting for a guarantee rent scheme you will not accrue any further costs.
· You will typically encounter void periods, for a number of reasons and during these periods you will not receive any rental payments – Whereas with guaranteed rent you will be paid you each month if you property is tenanted or not.
· Tenants are expected to pay on a certain day of the month. However, this isn't for certain. As tenants may pay late or stop paying all together. With Guaranteed you will be paid the same date of every month, giving piece of mind and security.
· During usual tenancies as a landlord you be expected to pay for any maintenance issues, repairs and replacement of fixtures. Guarantee rent can eliminate these unforeseen costs.
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