Guaranteed rent London is a scheme where a landlord leases their property to a company for a fixed period of time, in exchange for a guaranteed monthly rent payment. The company then sub-lets the property to tenants, and is responsible for all aspects of property management, including finding and vetting tenants, collecting rent, and dealing with any maintenance issues.
Guaranteed rent schemes are becoming increasingly popular in London, as they offer a number of advantages for landlords, including:
- Guaranteed rent: Landlords receive a guaranteed monthly rent payment, regardless of whether the property is occupied or not. This can provide peace of mind and financial stability for landlords.
- No voids: Landlords do not have to worry about finding tenants, or about the property being empty and generating no income.
- No hassle: The company takes care of all aspects of property management, freeing up landlords’ time and energy.
- Professional tenants: The company will typically vet tenants carefully, to ensure that they are responsible and reliable.
- Property maintenance: The company is responsible for all property maintenance, including repairs and upkeep.
However, it is important to note that there are also some potential disadvantages to guaranteed rent schemes, including:
- Lower rent: Landlords typically receive a lower rent payment than they would if they were letting the property out themselves. This is because the company needs to make a profit from the scheme.
- Less control: Landlords have less control over their property when it is leased to a company. For example, the company may have different policies on things like rent increases and tenant selection.
- Exit fees: Some companies charge exit fees when landlords want to terminate the lease agreement.
Overall, guaranteed rent schemes can be a good option for landlords who are looking for a hassle-free way to let out their property and generate a guaranteed income. However, it is important to weigh up the pros and cons carefully before deciding whether or not to sign up for a scheme.
How to choose a guaranteed rent company
If you are considering signing up for a guaranteed rent scheme, it is important to choose a reputable company. Here are a few things to keep in mind:
- Experience: Look for a company that has experience in the guaranteed rent market.
- Reputation: Ask for references from other landlords who have used the company’s services.
- Terms and conditions: Read the terms and conditions of the lease agreement carefully before signing it. Make sure that you understand the different fees and charges, and that you are comfortable with the company’s policies.
- Exit fees: Find out whether the company charges exit fees, and how much they are.
Conclusion
Guaranteed rent schemes can be a good option for landlords who are looking for a hassle-free way to let out their property and generate a guaranteed income. However, it is important to weigh up the pros and cons carefully before deciding whether or not to sign up for a scheme. If you do decide to go ahead with a guaranteed rent scheme, be sure to choose a reputable company.
Guaranteed Rent London
Suite 28, 679-691 High Rd. Leyton, London E10 6RA
020 8243 8551
guaranteedrentlondon.com