As the leading letting agent in Central Bristol, Let’s Rent is excited to offer our Guaranteed Rent service for Landlords in areas including Fishponds, St Werburghs, St Pauls, Eastville, and Bristol City Centre.
When you use our Guaranteed Rent scheme, Let’s Rent take on all the financial risks of your let and invest in up to 15k improving your property to make it the best rental option it can be. We practically become your tenants, providing you with a fixed, reliable monthly income which reflects the potential of your property over a fixed period
In return, we rent the property out to trustworthy tenants ourselves, managing all the associated legal matters and maintenance.
Guaranteed Rent is a service provided by letting agents like Let’s Rent, which takes the risk out of renting out a property. It means that the landlord receives a fixed monthly income, regardless of whether the property is vacant or the tenant is unable to pay. Essentially, the letting agent becomes the tenant and takes on the responsibility of paying the rent.
Although the same name is sometimes used, this is different than the insurance backed rent guarantee (also known as Rent Protection Insurance). We do not provide an insurance policy where individual claims must be made, but supply continuous payments even if the property is empty for multiple months. Our contracts also do not expire as individual tenants leave but cover at least 12 months.
With Guaranteed Rent, landlords can enjoy the peace of mind that comes with a steady income stream, without having to worry about the day-to-day management of the property.
This service is particularly useful for landlords who may have difficulty finding reliable tenants or managing their properties from a distance.
We have also found that the service is helpful for those who do not have the disposable income to turn their property into a viable rent option themselves.
Many of our clients find themselves in ownership of houses or flats in a poorly maintained state, perhaps through inheritance or after an elderly resident has moved on to other accommodation.
Without prior experience and a significant budget, it can be a challenge to turn a property into a safe let which follows government legislation, and you may not be ready to sell yet. If this is the case, a Guaranteed Rent setup can prevent the property from becoming a drain on your finances.
The answer to whether Guaranteed Rent is worth it for landlords depends on their individual circumstances. Here are some of the advantages to consider:
At Let’s Rent, we work with landlords to find the best solution for their needs. We offer a range of services to help landlords manage their properties and maximize their rental income. Contact us today to find out more about our services.
This is a common concern, but the contract for this service isn’t so different from our other Full Management Service, except that we may make more extensive repairs and improvements than we normally would with properties if the specific house or flat requires it.
Contracts for Guaranteed Rent may be longer than other services, generally at least three years, but when the agreed time comes to an end you continue to hold full ownership of your property and may sell it, make your own changes, or move to a different letting service if you choose to.