Guaranteed rent, also known as rent guarantee schemes, offers several benefits to landlords. In the real sense, it helps to alleviate the common hassles associated with property management, if done well. They can be said to be services that aims to ease the burdens and challenges often faced by property owners and landlords in managing their rental properties.
In this case, a property management company or organisation takes responsibility for the property and ensures a fixed rental income is paid to the landlord. What’s amazing is that whether the property is occupied or the tenant is unable to pay their rents, the property owner is still paid. Cool, right?
Hence, landlords should thoroughly research and choose a reputable and trustworthy company that provides such services. Not all schemes are created equal, and some may have hidden costs or unfavourable terms that can affect the landlord’s overall return on investment.
Here are four (4) ways guaranteed rent can help solve the hassles of being a landlord and help you earn much more, in less time and with less effort:
4 Ways Guaranteed Rent Can Solve Landlord Hassle
Reliable Rental Income:
One of the biggest challenges for landlords is ensuring a consistent cash flow from rental properties. Vacancies, late payments, or non-payment by tenants can create financial uncertainties. With a guaranteed rent scheme, a third-party organization, such as a local council or a property management company, guarantees to pay the landlord a fixed rental amounts each month, regardless of whether the property is occupied or the tenant pays. This provides landlords with a reliable income stream and eliminates the stress associated with rent collection.
Tenant Management:
Dealing with difficult tenants can be a time-consuming and stressful task for landlords. Guaranteed rent schemes often include comprehensive tenant management services, where the scheme provider takes care of finding suitable tenants, conducting background checks, and managing the day-to-day tenant issues. This relieves landlords from the burden of tenant selection and handling tenant-related problems, saving them time and effort.
Property Maintenance:
Property maintenance can be another major headache for landlords. With a guaranteed rent scheme, the provider often takes responsibility for the upkeep and maintenance of the property. They may handle routine repairs, conduct inspections, and ensure the property meets required standards. This frees up landlords from managing maintenance tasks, coordinating with contractors, and dealing with the associated administrative work.
Legal and Administrative Support:
Complying with the legal and administrative requirements of renting out a property can be complex and overwhelming. Guaranteed rent schemes typically offer legal and administrative support to landlords. They can help with drafting tenancy agreements, handling disputes, and ensuring compliance with relevant regulations. This assistance minimizes the risk of legal issues, saves landlords time, and provides peace of mind.
It’s important to note that the specifics of guaranteed rent schemes may vary depending on the provider and location. Landlords should thoroughly research and understand the terms and conditions of the scheme before entering into an agreement to ensure it aligns with their needs and preferences.
Need to solve your hassles as a landlord too?
Property Guarantee Group is the best property guarantee option for you. We give you rent guarantee scheme offers suitable to help you earn consistent cash flow income. Reach out to us today so we could take off every load from you and help you achieve your financial stability dreams.
