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Are you struggling to find the time or energy to manage your property?
We’ve compiled information into this page that will help you, the landlord, decide whether guaranteed rent is for you.
Our guaranteed service is a tenancy agreement between you the landlord and us the offering agent, where the landlord receives a fixed monthly rental income for a contract period, despite the tenant’s failure to pay, and whether or not the property is vacant.
We are regarded as the “tenant”, and pay the landlord a fixed and guaranteed rent on time. In turn, we sub-let the property to an actual tenant. Whether or not we are able to find a tenant, you the landlord will still earn a fixed monthly guaranteed rental income.
We offer a minimum period of 12 months for a VIP Letting Service, during which we take care of all tenancy matters for your property.
No. Unlike rent guarantee insurance, our VIP Letting Service does not involve any premium fees, commissions, VAT, legal costs, or any hidden charges (such as set-up, admin, renewal, etc.) that need to be paid to the offering agent. Also, the coverage and claiming of benefits in a rent guarantee insurance is also subject to certain conditions, and the landlord would still be involved in necessary court actions. With our VIP Letting Service, on the other hand, offers ‘guaranteed’ benefits without the typical restrictive conditions in an insurance.
Our guaranteed rent service is completely different from: rent guarantee insurance (where there are fees to be paid by the landlord and claims processing may take up to 90 days) and council-assisted rent (where ensuring property condition is not normally covered). Our guaranteed rent service features the hassle-free opposite of the other forms of rent payment schemes above.
While the landlord is guaranteed to receive fixed monthly rent payments regardless of a non-paying tenant or a void property, guaranteed rent absolutely does not involve any fees, commissions, and other hidden charges. Aside from the eliminated costs by the landlord, the risks associated with letting are effectively transferred to us, as it will be our responsibility to deal with the tenants. This includes searching for and screening tenants, tenant-caused property damage repair, and court actions to name a few.
Your rental income
Yes, more likely, especially if you compare your ROI in terms of your annual rental income. With a guaranteed income stream, reduced costs, and eliminated risks, landlords will gain a more secure and stable financial advantage. You will still be able to earn your rental income through us even if your property is void, and even if the actual tenant fails to pay. You will also be able to save from marketing expenses and avoid the need to lower your rent just to attract a tenant. With a consistent earning, your budget schedule (as well as your scheduled mortgage payments) will be more on track.
As soon as an agreement is signed between you (the landlord) and us (your professional tenant), you will start receiving your rental income on the set date, which will occur regularly. We will pay you the set fixed amount on time, and without any skips and reductions.
We serve as your professional “tenant”, we will continue to pay the exact same rent amount, regardless of the actual tenant’s arrears or nonpayment.
Once the agreement is signed, the set payment date in the contract will be followed by us no matter what. We will continue to pay the exact rent amount, regardless of the property’s vacancy within the contract period.
Kindly contact us for a FREE appraisal of your property with no obligation, where we will be able to calculate your rental income.
Your professional tenant
The contract is between you (the landlord) and us where we act as your professional “tenant”. We in turn sub-let your property to actual tenants, where we take care of the selection and screening for the right tenants, and deal with all other tenancy matters. While we are your “tenant” in the contract, we effectively act as the “landlord” to the actual tenant/s in terms of tenancy management and property custodianship.
We cover repair for tenant-caused damage, as well as the legal costs and necessary court action procedures for tenant eviction.
As we earn directly from the market-level rent payments of actual tenant/s we find for your property, we make our profit by paying you with a minimal difference. This is in reasonable exchange for a secure and stable annual rental income without any arrears or missed periods, and the transfer of letting risks from you (the landlord) to us, which relieves you from the costly and time-consuming hassles of common letting issues. We take the financial hit when the actual tenants do not pay, when your property would need repair due to damage caused by the tenant, and when eviction is necessary.
We are very experienced in the letting industry and have an excellent reputation providing excellent property consultancy services in Mid and South Devon. We treat every client with a professional and personalised approach to work closely to offer the best solutions for every specific need.
The actual tenant
Since the agreement is between you (the landlord) and us (your professional “tenant”), we are effectively the only party you will have to deal with. It is our obligation in the contract to deal with all aspects of tenancy in your property, and the actual tenants will deal directly with us for any tenancy concerns. Aside from tenancy management and property custodianship, we also cover the necessary court actions in legal costs for tenant eviction.
As your professional tenant, we practice thorough diligence in selecting the right tenants who will treat your property with safety and care. For any internal damage caused by the tenant in your property, we will cover its repair.
You, the landlord
We recommend that landlords have their properties comply to the appropriate safety standards (gas, electrical, fire alarms, etc.), and that their respective licensing and leasehold arrangements are taken care of. This way, landlords (as the property owners) would avoid violation fines by the government.
As with any other letting services, each one’s suitability essentially lies upon the responsibilities and risks that the client is willing to take. Our guaranteed rent service is suitable for landlords who seek a stable and consistent income without the hassles, paying any service fees and having to deal with tenant problems.
You are welcome to contact us for a FREE appraisal of your property with no obligation, where we will be able to calculate your rental income, and discuss further about the applicable arrangement for your property.
While you are the landlord and we are your professional “tenant”, we act as the professional “landlord” in a separate contract we have with the actual tenant. We effectively deal with all tenant concerns like how a landlord like you normally would, including the costs in maintaining and repairing tenant-caused damage to your property, and the legal procedures and costs for eviction.
Because we, your professional “tenant” in the agreement, will deal with your property’s actual tenant by acting as their “landlord”, and that we will serve as your property custodian, you as landlord / property owner may feel like you have little or no control during the contract period. However, you are always free to deal with us directly about any concerns you may have about your property.
There are absolutely no fees and commissions, even for renewals.