Did you know that over 1.75 million landlords alone provide housing for over 4.3 million households? It’s a staggering number, yet just a tiny portion of them are seasoned property managers who work full-time managing a portfolio of properties.
Who Are They?
They work regular jobs like you and I do and may own one or two properties that they rent out to boost their income.
The issue is that being a landlord requires a lot of effort, and in order to do it well, you need to consider a lot of different factors and be aware of a lot of different activities.
What Is A Guaranteed Rental?
An estate agency would typically be in charge of promptly locating you new tenants under the standard agreement. There you go.
The majority of estate agents therefore don’t have a strong motive to rent out your house as soon as possible and assist you in getting back to producing money.
However, they value continuity and preserving your way of life, and part of doing so is making sure your home will always bring in a profit. They developed the “guaranteed rent” program for all of our landlords because of this.
In essence, the rent guarantee scheme implies that it becomes your “tenant,” giving you a set monthly income even if your property is vacant.
Guaranteed rent is among our most well-liked services for landlords, not only because you get a consistent paycheck but also because it’s a very all-inclusive and simple service to use.
With their service for guaranteed rentals, you get:
- A monthly, on-time, annual rental income guarantee.
- Payment assurance, even if the house is empty.
- Despite late or non-payment of rent, payment is made on schedule.
- No setup costs, ongoing commissions, or other fees.
- They address all of the tenant’s concerns, questions, and complaints.
- A set start date for the contract, so you won’t have to worry about how long it will take to find a renter.
- They pay for court fees and the eviction procedure if necessary.
- Consistent property inspections and upkeep supervision.
- Up to one and a half months’ worth of rent is guaranteed for internal condition, over and above normal wear and tear.
Are You a Good Fit for Guaranteed Rent?
Nobody except you, in the end, can respond to that query! That’s partly because determining which letting service is best for you depends solely on the level of risk and accountability you’re ready to accept.
Some landlords are more than willing to handle the duties associated with processing contracts, background checks, rental agreements, payment chasing, and the rest. They are more than pleased to be completely involved with their property and their renters.
Guaranteed rent service is best for landlords who want the added security of property management on top of the financial security of knowing their rental revenue each month. On the other hand, you can always contact them and ask if you aren’t sure.
How Long Is The Agreement?
Each office will have slightly different offers, however they can often provide contract terms starting at 12 months, with the option of rolling renewals after that.
What about the condition of the inside? When they sublet the property, they collect the tenant’s regular deposit and store it securely in one of the sanctioned schemes.
The deposit is intended to pay for any damages after they leave.
Nevertheless, subject to normal wear and tear and the internal condition, we promise to pay you up to 1.5 times the monthly rent.
What Are The Advantages?
Here are no vacant periods, unpaid rent in arrears, commissions, setup or renewal costs, or unstated fees. Actually, dealing with tenants is not necessary at all!
