How Rent Guarantee works
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The concept is simple:
- We set up Agreements with you and ensure everything is in place as required by law for you to rent your property. Then we Manager it for you for a long period of 3 to 5 years (minimum 12 months) – we then let it out to our professional clients.
- During our tenancy all rental payments are guaranteed and regardless of whether the property is empty or not under our Agreement we will still pay the rent in full and on time as agreed in the terms of our agreement with you.
- We will make periodic inspections of the property and a copy of the report will be kept on file. Operational costs (e.g. Gas certs, EPC, Elec certs) as required will be met by us and any routine maintenance, (but not the replacing of large items e.g. fridge and washing machines and Furniture) will be met by us, up-to a maximum of £500 per Annum.
- Larger upgrades to the property as and when required will be covered by owner
- There are no fees or commissions payable with this scheme.
When you Joining our Guaranteed Rent Program you could achieve more absolute rent versus using High Street Letting Agencies or even using the ‘Do It Yourself ’ model.
Check out the Numbers Below:-
| Do It Yourself | High Street Letting Agencies | With us |
|
| Rental value paid per calendar month | £1,200 | £1,200 | £1,000 |
| GROSS ANNUAL RENT | £14,400 | £14,400 | £12,000 |
| Typical voids | £1,800 | £1,800 | £0 |
| Tenant Finding Fees / Cost | £750 | £1,440 | £0 |
| Management Commission | £1,000 | £1,628 | £0 |
| Inventory & Deposit Protection | £275 | £236 | £0 |
| Net Income You Receive Per Annum | £10,575 | £9,096 | £12,000 |
| NET INCOME YOU RECEIVE PCM | £881 | £799 | £1,000 |
| Net Income You Receive 12 MONTHS | £10,572 | £9,096 | £12,000 |
| Net Income You Receive 3 YEARS | £31,716 | £27,900 | £36,000 |
| Net Income You Receive 5 YEARS | £52,860 | £46,490 | £60,000 |
Please note that VAT has not been added so the high street agent fees
and costs may be more and your returns even less than shown
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