Can You Ensure You Never Suffer An Unpaid Tenant Payment Again?
Would you rather swap the hassle and risk that is associated with renting out a property in return for a guaranteed rent payment every month? Sounds unrealistic, right? Wrong! Read on to discover more about letting agents guaranteed rent.
A lot of landlords are in a bad position at the moment due to the pandemic
There are a lot of landlords that have ended up with rental properties unintentionally due to the economic downturn, which saw them unable to sell their properties. There are also those who have simply lost interest for a number of different reasons – maybe they are retiring and want a stress-free life, or maybe they have relocated and are finding it too difficult to manage the property from afar. These are the types of landlords that will benefit from a guaranteed rent, as well as those who are struggling financially of course.
What is the guaranteed rental scheme?
With letting agents guaranteed rental scheme, you will hand over your property to the letting agency for a set period of time, and they will pay you a set amount on a certain day every month without fail, irrespective of whether your property is occupied or not. It is worth pointing out that this amount is typically lower than what you would get if you rented out your property yourself.
Your letting agent is then responsible for finding tenants, ensuring the property is occupied, and all of the maintenance and management that comes with this. They will then pocket the profit. However, if they don’t manage to rent out the property and consequently they don’t make any cash, this will not impact you, you will still get your payment every month.
Your property will be maintained in excellent condition
While the property management company is going to make sure that your property is rented out, they will also need to make sure that it is cleaned and looks amazing too. They will hire companies like Pressure Perfect who will make sure the exterior of your property is looking great, giving it the best chance of being rented out. Of course, whether or not it is rented out will not make a difference to the money you receive every month. However, when you choose a company that is dedicated to making money and getting your property occupied, it also means that your property is going to be kept in the perfect condition for you.
Final words on how to make sure you never suffer a missed tenant payment again
So there you have it: an insight into an alternative option that is available to you if you want to make sure you can guarantee a monthly amount of money on your rental property and you do not want to experience the hassle that typically comes with being a landlord. We hope that this has opened your eyes up to the fact that there are so many different options available for people today.