One of the main concerns of any landlord in London is of getting regular income from their property. Nothing can be more stressful than having to bear tenants who are not paying the rents or to wait find a tenant for the property. But now there is a solution in the form of guaranteed rent scheme in which monthly rents are guaranteed to landlords.
What are the benefits of using guaranteed rent scheme?
Fixed Payments: In this scheme the property management company guarantees fixed monthly rent to landlords be it of any size or in any location. In guaranteed rent London scheme the landlords are assured of monthly payments regardless of the fact that tenants are not making rental payments, property is let or vacant.
First Payment: The other benefit of this service is that the landlords get the first payment into their bank account within 24 hours of signing the contract with such property management service provider. There is no waiting time till a tenant is found. The service provider effectively becomes the tenant for the whole duration of the rent contract.
No Fees or Commission: Good property management company does not charge any type of tenant introduction fees or commission for setting up the rent contract. In addition to it, there are no hidden charges that the landlord has to pay.
Highest Rents: Property management service providers have experienced letting agents who try to get highest rent for the property. Since these companies do not charge any type of fees from landlords, it is in their own interest to get the best rent for the property.
Having good knowledge of the letting market in London, these letting agents are in ideal position to get the best value for the property.
No Viewing or Reference Checks: Another benefit of using services of property management company is that they take care of the tedious task of checking references and other paperwork of prospective tenants. Additionally, you do not have to take the headache of time consuming viewings, since that task is also taken care of by the property management company.
Regular Inspections: It is important to maintain property in good condition and most of the property management service providers are aware of it. In this context most of the property management companies make sure that regular inspections are carried out to make sure property is in good condition.
At the time of inspection it is also checked whether the tenants are following the tenancy agreement or not and that they are maintaining the property.
No Bills: The main aim of property management companies is to make property letting as much hassle free for you as possible. Thus, such companies take full responsibility of paying all the utility bills as well as council taxes for the property.