Guaranteed Rent

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Guaranteed Rent is our most popular service and is experiencing large levels of growth as Landlords seek the extra security of knowing their rent will be received on time every time. 

There are many benefits to Letting your property through our Guaranteed Rent Service. Some are obvious from the start such as starting your contract and receiving your first rental payment immediately and others only become apparent once a tenant has moved out, such as re-decorating and then the re-letting of the property. 

Our Guaranteed Rent Service has been designed to offer the Landlord complete peace of mind by knowing that their rent is being paid every month without fail and also that the property is being well looked after. This is achieved by conducting monthly inspections of the property with reports available on request.  

With our Guaranteed Rent you know your rent will be paid in full into your nominated bank account on the same day every month without fail. Our Guaranteed Rent has been designed to provide a secure return for your property and at the same time keep your property well maintained.

 

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Your 3 Steps to Complete Peace of Mind!

Step 1 - We visit the property

On our visit we will look at the location, size and quality of finish within your property. We will then offer you a Guaranteed Rental figure which will be paid on time, every time. This is generally slightly under private market value. However, when you take in to account the average agency free and void period of 21 days (ARLA PRS Report, March 2016) you are almost always “better off”! 

Step 2 - Agree your rental amount

Providing your property meets our basic safety requirements, we will start your contract and pay your first month’s rent as soon as we receive the keys from you! Leases are offered for periods between 1-3 years and you will never experience a Void period throughout the duration of your lease. We are happy for Landlords to “try out” our service with a 12 month lease as we are confident you will want to continue benefiting from our service for years to come!

Step 3 - Sit Back & Relax

Now your tenancy has started, you can relax and enjoy your new Guaranteed income. We will visit and inspect the property every month. This is because we do not only guarantee the rent, but also the internal condition of the property! Our reports are available on request, which can be viewed on your new free iPad Mini!

 

It really is as easy as 1…. 2…. 3!

Below is an example of how Guaranteed Rent can save you money and safeguard your property and rental income for years to come:

Why Use Guaranteed Rent vs Full Management?

Three Bedroom Flat

Full Management Service

 

Private market rental value per calendar month

 £1,500.00

Average agency fee @ 10%

 £1,800.00

Average cost of after tenancy works (i.e painting)

£500.00

Average void period @ 21 Days (ARLA PRS Report, March 2016)

 £1,035.61

Annual net amount received by Landlord

 £14,664.39

Guaranteed Rent Service

 

Guaranteed rental value per calendar month

 £1,375.00

Average agency fee

 £0

Average cost of after tenancy works (i.e painting)

 £0

Average void period @ 21 Days (ARLA PRS Report, March 2016)

 £0

Annual net amount received by Landlord

 £16,500.00 

Many Landlords believe that they will be ‘better off’ with a Private Tenant. However this is not always the case. Once you take into account agency fees (every time the property is re-let), end of tenancy works and void periods you can see that Guaranteed Rent is a very attractive offer. 

When making a decision on whether you would like to lease your property on a Guaranteed Rent Service or on the Private Market you must consider the following:

 

CONTRACT & START DATE

Private Market - A report on the private rental sector conducted by ARLA in March 2016 has found the average empty period between tenants is 21 Days. This is due to the property needing to be advertised, viewings need to be carried out and finally a potential tenant needs to be referenced and credit checked. If this potential tenant does not pass the checks, then we start all over again leaving the property empty for longer than necessary. 

Guaranteed Rent   – We are able to start your contract and pay your first month’s rent on the same day we receive the keys from you! You do not lose any time advertising your property. 

RENTAL PAYMENTS

Private Market - The Landlord must wait for rental payments to be received by the Managing Agent. This means if the Occupants pay the rent late, the landlord will receive the rent late. Also if there are any non-payments of rent from the Occupant, this will be passed on the Landlord and no rent will be received. This is becoming more common place even with the very best private Tenants.                            

Guaranteed Rent – All rental payments are made by Paul Alexander directly into the Landlords nominated bank account. The full agreed rental amount will be paid on the same day of each month without fail. This eliminates any chance of the Landlord receiving late, part or non-payments of rent. We have found that our Landlords really enjoy this security.

MAINTENANCE & REPAIRS

Private Market - As the Landlord, you can be contacted 24 hours a day to deal with any maintenance and repair requests. These can and do happen at any time of the day. As the Landlord, you will be expected to act promptly and efficiently in order to keep you tenants happy and the property in good condition. Failure to do so can result in further damage to the property and an unhappy tenant which means higher repair costs and a higher probability of the tenant not paying rent or vacating the property early. 

Guaranteed Rent - As we inspect every property once a month, we are well placed to react quickly and prevent major issues arising. We also have a 24hour maintenance line in case of emergencies (such as flooding) in order to protect your property from further damage. We put right any damage caused by our tenant in the property, so if a young child decided to colour in the walls…..we will re-decorate and put it right! 

RE-DECORATING & TENANT DAMAGES

Private Market – At the end of a Tenancy, minor decoration works may need to be carried out. For example the walls in the property may now appear ‘dirty’ and would need a fresh coat of paint in order for the property to be attractive to a new Tenant. It can be very hard to claim this from the security deposit as it will be attributed to fair ‘wear and tear’. It is also a possibility that major works may need to be carried out that far exceed the amount of security deposit being held.                                                   

Guaranteed Rent - We do not only guarantee the rent but also the condition of the property. Paul Alexander will cover the cost of any work relating to damage caused by the Occupants. You will receive your property back in the exact same condition or better as when it was received giving the Landlord complete peace of mind.

VOID PERIODS

Private Market – Between tenancies, the Landlord will experience void periods where the property is vacant and no rent is being received. Often the Landlord will be carrying out work after the previous Tenants have vacated. The void period will continue until a new suitable Tenant can be found. On average most properties will experience 21 days void period (ARLA PRS Report, March 2016).

Guaranteed Rent – Whether we Guarantee the rent of a property for 1 year or 3 years  the Landlord will experience NO VOID PERIODS. Even if the property is empty in-between Tenants, the Landlord can rest assured knowing that they will still be receiving rent.

  • The Property Ombudsman – Lettings
  • The Property Ombudsman – Sales
  • Rightmove
  • DPS