Have you got a question as to how the guarantee rent works? Our useful FAQ will aim to answer those questions for you. If you still have a question or two, please contact us.
- Do you make any charges for fees?
No. We will pass on 100% of the agreed rent to you or your agent with no deductions.
- Where do you operate?
We cover the whole of the UK and beyond. Simply contact us wherever your property is located.
- We contacted another company, they only pay a maximum 80% of the market rent – what about you?
it is our aim to always pay the market rent. We have found that a few letting agents will inflate the expected rental figure to get you to sign up, and then ask you to lower it two months later when it is still empty and costing you every month. We assess the market rent as what we feel is realistically achievable based on recently let properties locally.
- Does the property have to be vacant?
Yes. We will require vacant possession.
- Will I have to provide furniture?
No. We will provide all furniture if unfurnished. If the property is furnished then we may be able to use some or all of it.
- Do I need to tell my lender?
Yes. You should always tell your lender that you are letting the property out either on an AST or a short term let basis.
- I am already doing this via Northwood?
Northwood are a large national company and do offer a similar scheme, however they will pay a lower monthly rent to the landlord.
- Can we switch from Northwood or another company?
Yes. You can switch, however you would need to exit any current contract first and ensure the property is vacant. If you are currently in an agreement with an estate or letting agent you can either wait until that contract expires or ask them to deal with us. You may be subject to their fees if we are engaged via a third party.
- Can we get the property back if we change our mind?
Yes. We build into our agreement a two month trial period if we let the property on short term holiday basis. This allows either party to exit without penalty. If we let the property on an AST we will be tied to that AST once signed.
- Will you look after the property?
Of course! We will usually repaint the property as required. We will insure the property internally and ensure that when we hand the property back it is returned in the same or better condition.
- What about repairs?
We will cover any minor repairs up to £50 per item. Anything major would be down to the owner to repair or replace. By covering the minor bills ourselves it should mean we do not have to contact you.
- Is my property suitable?
Probably yes. We can take large and small properties. They can be houses, bungalows or flats. If they are close to tourist areas, town centres, commercial zones or on an island it usually does not matter. Simply contact us and we will let you know.
- Will my property be let as a whole unit or by the room?
Quite often we will let the property on a room by room basis. Either to long term tenants that an AST will be issued with or on short term holiday let basis. We will cover any void periods and give you the full agreed rent every month, with no exceptions.
- Do I need a gas certificate or energy performance certificate?
Yes. This will be required and we can assist if needed. You may already have this as the EPC lasts for 10 years, although the gas is annual. We can organise repeat gas certificates and deduct that from any rent. You should however ensure that any certificates required by law are in place. We can certainly assist where necessary. Often no further certificates are needed, but it can depend on the property.
- Will you insure the property?
You should ensure that the building is insured for letting and/or holiday lets. We will insure the contents as well as carrying other insurances required to protect anyone staying in the property. We also carry public liability and professional indemnity insurance.
- Do you change the locks?
Yes. We will usually change the locks to ensure the correct people can enter the property / rooms at the correct times. We may need to fit locks to internal doors. The doors maybe replaced to comply with legal fire requirements.
- What sort of contract is used?
Where possible we will use a management contract with the landlord. We do not like to over complicate matters.
- Will my property be let out to holidaymakers or similar guests?
Yes it may. There is a large demand for people to stay in good quality accommodation. Around the globe these are often regular properties rented from landlords. However often we get people who need to stay in one location for several weeks for work or other reasons. This is why we are interested in property in many locations around the UK or even abroad. We always aim to avoid letting the properties on very short stays. Companies like Airbnb will ask their members to verify themselves for additional security. You may have stayed in a property rented in this way whilst on holiday and often these are far superior to many hotels and offer greater flexibility.
- Can’t I do this myself and bypass you?
Of course. However you will need to belong to the property ombudsman, carry professional indemnity and public liability insurance, cover any void periods, manage bookings or tenants, deal with issues around the clock, employ cleaners, pay for small repairs, use professional software and the list goes on. Do you want an easy life or the fear of the phone ringing at 3am? We take all that stress away from you. Simples!
- What if I have more questions?
Simply contact us. By email, form, phone or social media. We will answer any question by return.