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What is Guaranteed Rent?
Guaranteed Rent, two words that are every landlord’s dream.
You may be wondering what exactly guaranteed rent is. Surprisingly enough, it is not over complicated and it does exactly what it says.
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Guaranteed rent, is an agreement that involves the signing over of a rental property from a landlord or agent to a company like ourselves in exchange for a guaranteed monthly income. These parties are known as middle tenants. After a contractual agreement has been reached the middle tenant can then sublet the property and manage its tenancy.
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Upon reaching an agreement, the company/middle tenant becomes obliged to market the property, find suitable tenants, handle administration and maintenance, while also ensuring compliance with relevant property compliance requirements.
So What Are The Benefits
of Guaranteed Rent?
Guaranteed rent offers countless benefits. However, it is important that
the right choice is made when choosing who will provide you with this
service. Nonetheless, here a few benefits:
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Quality Tenants: Your property is occupied by the best tenants,
minimising the risk of problematic renters.
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Steady Income: Even if your property is temporarily vacant, you
continue to receive a fixed rent that has been agreed, so you
continue to have a reliable income.
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Free Repairs: Minor fixes and maintenance are something that can
be enjoyed, however this is dependent on who is providing the
service.
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Free Cosmetic Refurbishment: This is also contingent on your
service provider. However, a good quality refurbishment can attract
high-quality tenants.
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Long-Term Lease: Enjoy the security of a long-term lease with
guaranteed rent depending on the length of your contract.
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Property Care: In the right hands your property will be taken care of
and may possibly even be improved upon.
If you would like to find out more about how you can benefit from guaranteed rent why not contact us and leave a message.