Frequently asked questions
What is guaranteed rent?
Guaranteed rent is where landlords, developers & property investors are provided a pre-agreed rental income for a set period of time. The rent is not reliant on tenants and comes directly from the company itself, regardless of the occupancy of the property. In our case, we guarantee the fair market rate and look for 2-5 year agreements.
Who looks after maintenance?
While the owner will continue to remain responsible for the of the property and the structure. (eg; white goods or broken windows) however, as a gesture of goodwill we agree to cover costs of up to £200 per month of general wear and tear (eg;lights out and not working) of the property to try to make the whole process even more hands-free.
What happens at the end of the agreement?
Towards the end of the contract, we will let you know if we would like to seek to extend the agreement. If both parties agree to renew, then we will discuss a new contract, or simply extend the existing one. Should the parties agree to go our separate ways, we will return the property to you in the same condition as when we took it on (taking into account fair wear & tear).
What do you do with the properties?
We specialise in providing high-quality short-term serviced accommodation to business clients and guests that are staying away from home.
Therefore we work with landlords on this guaranteed rent basis to be able to accommodate the growing demand from our clients. This is a time-intensive, specialist service, and because of this we are able to charge the guests a nightly rate that exceeds that of the rent payments and our costs. This is where we make our profit as we do not charge our guaranteed rent scheme landlords any fees at all. It’s a win-win for everybody involved. You get your pre-agreed rent each month without any hassle and your property will be well maintained, providing our clients with high-quality accommodation that they are looking for.
Do I have to sign a fixed term contract with you?
Yes. We are looking for stable long-term partnerships of 2 to 5+ years with our landlords. If you believe that you may need the property back at some point, we can discuss the exact length of contract before agreeing and signing any contracts.
How do I receive rental payments?
Once the agreement has been signed, our finance team will create a standing order to your bank account that schedules the agreed rental instalments on-time each month until the end of the agreement. You will automatically receive the agreed amount of rent each month, regardless of whether the property is occupied or not.
What happens if the property is empty?
This is not something that you have to worry about. You will receive your rent each month without fail even if the property is empty.
I have more than 1 property. Can I get guaranteed rent for all of them?
Fantastic! Yes we would be delighted to offer guaranteed rent on multiple properties/entire portfolios so long as they all fit our criteria. We have landlords that have made their entire portfolio hands-free using our guaranteed rent scheme.