With our guaranteed rent service* we offer you guaranteed rent every month for the property regardless of voids, we cover the day to day maintenance costs ourselves, we find and reference tenants for the property and we deal with all of the tenant calls and queries, giving you a completely passive investment.
You may be wondering how we can make money if we are covering all costs and doing everything for you, below is a breakdown of how the process typically works and therefore give you an understanding of how we both benefit from the service.
1. After you inquire with us about our services, we will analyse your property in detail and decide what the best course of action will be to solve your property problems.
2. If your property meets our criteria we will make you an offer with the relevant terms and conditions that relate to your property. For example we will decide to offer £X for your property per month in guaranteed rent regardless of voids, cover any maintenance costs up to £X amount and redecorate your property for a value of £X to allow us to receive a higher rental amount from tenants, if your property requires work to be done of course.
3. Once you are happy with the terms and the amount you will receive each month we proceed to sign the relevant contracts to ensure that all legal aspects and possible scenarios are covered for our mutual protection. We will also go through the process in more detail to ensure you are completely comfortable with the agreement and understand every aspect for your peace of mind.
4. Once we have agreed to rent your property from you, we will carry out the relevant works if necessary and will rent the property out to our waiting list of professional tenants who are working in the area. The property will be occupied by professional tenants who have been checked via the correct referencing checks to make sure your property is in safe hands.
5. Our service, work to the property and marketing allows us to charge a premium price for rent and therefore make a larger profit than when you rent through an agent. By doing this, we are able to pay you a fair price and keep a fair profit for our work.
6. After an agreed period of time, usually between 3-5 years we will return your property to you in the same or better condition than you gave it to us and you are free to do what you wish with your property.
*Please note that the guaranteed rent service is only available for current HMO properties at this time.
Feel free to call us for a discussion about your property or to find out more about our services. Our contact details can be found on the "Let us help you" page or alternatively click below to be taken to the page.
We offer you guaranteed rent paid every month on time even if there are voids in the tenancy and the property is not occupied.
With our service there is no need for you to worry about maintaining your property, we cover day to day costs for you and cater to the tenant's needs, especially when they're locked out in the middle of the night.
Every time a tenant leaves your property, you are more than likely paying fees to your agent for finding your property a new tenant. We cover all of this as we source working professionals and do all checks ourselves and cover these costs.
We consider properties in any condition, so if your property is dated or needs a light refurbishment we will cover these costs for you at no additional cost. We are able to do this as our contracts are 3-5 years so we know we will benefit from the work due to increased rent and you will benefit as your property will be in a better condition than before.
Our service offers long term contracts between 3-5 years, this gives you peace of mind for longer. By the contracts being long term we are able to invest more of our money into the property meaning that at the end of our agreement you will give your property back in the same or even better condition than we received it in!
With our service we are the tenants first port of call so there is no need for you to attend to their problems or even know about their day to day issues of being locked out or the sink being blocked. Therefore you are not tied down and can enjoy the pleasures of spending time with your family or travelling with nothing to worry about.
What are we responsible for?
We are responsible for paying you the set monthly rental fee each month. We fill the house with our professional tenants, we ensure all of the utilities and council tax are paid, we hire a cleaner and a gardener (If you have a garden) to watch over the property and take care of the communal areas. We are the first port of call for the tenants if they have any problems. We act as the landlord and take over all of the landlord responsibilities so that you don’t have to worry about any of it. As we provide a high quality service to our tenants we will usually spend money on the property up front in order to redecorate it to a higher standard. There will be no cost to you for any interior upgrade work, decoration or furniture and you will not have to pay for this work even after our agreement comes to an end.
Am I responsible for anything at all?
As you are the landlord, you will need to make sure the structural elements of the building are in order. We are not responsible for repairs to these parts of the home, such as your roof. You should make sure the building is insured with the necessary insurance and that you have the correct safety and environmental certificates in place (e.g. Gas safety, Electrical Safety, EPC). Also it is your responsibility to look after your own mortgage and make payments on time.
Is this sub-letting?
No. This is not sub letting as we do not have an Assured Shorthold Tenancy (AST) with the owner of the property. The AST is the contract that disallows sub-letting and is not appropriate in this situation and therefore not used. The contracts that we use has been drawn up by a solicitor specifically for these types of arrangements and therefore the process is completely legal and practiced across the country.
How do we make our money?
Unlike estate agents we do not charge you any fees or commissions. We earn our commission from the tenant that we put in to the house. As we work with local companies to rent to their professional employees and provide quality housing with flexible length terms and professional services, we are able to receive a mark up on the monthly rent. Because of the high quality service and accommodation we provide to our tenants we are able to charge a premium price and therefore that is how we make our money.