Guaranteed Rent
As landlords ourselves, Evostar Property understand the many jobs and responsibilities that come with renting out a property. We also know in these uncertain times, many landlords are becoming increasingly concerned about meeting their mortgage payments on rental properties. What if a tenant can’t afford to pay their rent? What if a tenant moves out and you can’t find a replacement? Should you risk undertaking refurbishments on a property when you might not see any return?
Or maybe the last months have made you rethink your priorities and, while you enjoy the income rental properties give you, you’d rather be spending the time they require with your family, friends or on yourself.
What is Guaranteed Rent?
Guaranteed rent is the increasingly popular way for landlords to have their cake and eat it. It provides guaranteed income from your rental property but without any of the hassle or stress that managing the property brings. That is because you aren’t responsible for any of that. You don’t have to deal with finding tenants, chasing rent, organising the necessary safety checks or sorting problems with the property. All of that is dealt with for you. By us. Because we are your new perfect tenant.
If your property is empty – we will still pay you. So no more voids and no more uncertainty.
If your tenant doesn’t pay their rent – we will still pay you.
So whatever is happening with your property, you will have the peace of mind that on the same day every month you will get paid the amount we have agreed, for the duration of our agreement. Guaranteed.
How does Guaranteed Rent work?
With Guaranteed Rent, we become your professional tenant. We will sign an agreement with you to make a payment on an agreed date every month for the duration of the agreement.
We will be responsible for the management of the property. We will find tenants, check them, ensure the interior of the property is kept to a good standard and organise all of the necessary safety checks required. If tenants were to damage the interior of the property, we will be entirely responsible and, as your professional tenant, will ensure it is repaired.
Because our company has a high standard that all of our properties must meet, it may be that we would even undertake some cosmetic work on your property to ensure it meets our high standard.
When it comes to tenants, we will be the ones dealing with them so you don’t have to. We will take the late night calls. We will repair or rectify any problems that arise and we will chase the tenant if they don’t pay their rent.
There also aren’t any fees to pay, like you would get with a management company or agent. Nor will any hidden charges crop up for you to pay.
| Letting Agent | Our Property Management Service | |
|---|---|---|
| Agent commission | 10-15%+ | no costs |
| Landlord set-up costs | £200 – £750 | no costs |
| VAT paid | 20% | no VAT |
| Void period | landlord costs | no lost rent |
| Rent arrears | landlord risk | no lost rent |
| Court costs | landlord risk | no court cost |
| Net Rent | UNPREDICTABLE | RENT GUARANTEED |