Ways Guaranteed Rent Reduces Your Stress as a Landlord

Being a landlord can create a unique opportunity to earn an income from your property. However, it also comes with its own share of challenges, including stressful tenant management problems, costly maintenance repairs, and a list of legal obligations. A guaranteed rent scheme provides a hassle-free solution to such issues by paying consistent monthly incomes regardless of tenant occupancy.

What is Guaranteed Rent?

Guaranteed rent is a service offered by a property management company which guarantees the landlord a fixed rent payment, regardless of whether the property is occupied or the tenant has not paid rent yet. Also known as a rent-to-rent, guaranteed rent involves the landlord leasing their property to the management company for a specific period. In return, the company guarantees the landlord monthly rent payments regardless of the property occupancy. 

How Guaranteed Rent Reduces Your Stress as a Landlord

Managing your rental property as a landlord in London can be hectic. You need to find reliable tenants, follow up with late payments, handle repairs and maintenance, and handle any unforeseen issues that may arise.  A guaranteed scheme will not only ensure that you get your monthly rental income but also simplify property management for you. This can reduce your stress as a landlord in several ways:

1.      Gives You Peace of Mind

Guaranteed rent gives you peace of mind in knowing that you will receive a steady income from your rental property. Regardless of the property being vacant, you can always expect your rent on the agreed dates. This can particularly be helpful to those landlords who rely on rental income to cover mortgage payments or as their primary source of income.

2.      Reduced Tenant-Related Stress

Dealing with tenants, especially in London, is stressful for most homeowners. Tenant issues, such as late or default payments and maintenance disputes often require significant time and effort.
When you sign up for guaranteed rent in London, the agency takes full responsibility for tenant management. So you’ll no longer have to deal with issues like tenant screening, legal compliances or organising repairs.

3.      Reduced Risk of Rent Arrears

By entering into a rent-to-rent arrangement with a guaranteed rent agency, rent arrears or tenants who fail to pay is no longer a concern. The management company will be responsible for making sure the rent is paid on time and in the right amount. This allows you to focus on other important decisions such as expanding your portfolio.

4.      Fewer Administrative Duties

Once you sign up for a guaranteed rent scheme, you offload all key administrative duties of managing your rental property to the agency. They will be responsible for advertising, legal compliance checks, and general landlord legislation. They will also coordinate the move-in and move-out logistics of all tenants while ensuring your rent is secured.

5.      Keeps Your Rental Property in Shape

One of the crucial aspects of attracting and retaining tenants is maintaining the property in good condition. Guarantee rental arrangements offer regular property maintenance and inspections to ensure the property stays in excellent condition. In addition to attracting better tenants and longer tenancies, regular maintenance also preserves the value of your property over time.

6.      Professional Marketing and Re-letting

Finding new tenants for a vacant property can be a headache. Not only do you have to market the property, but you also incur several re-letting costs like repairs and legal requirements. You can avoid all these costs by assigning your property to a trusted agency, that will handle all the marketing and re-letting responsibilities. They will advertise the property, arrange viewings, negotiate tenancy agreement terms, and facilitate the move-in process of new tenants.

Secure Your Rental Returns with Paul Alexander Group

A guaranteed rent scheme can be a valuable agreement for landlords who want to reduce the risk of letting out their properties. Not only does it give you peace of mind, but it also secures your rental income and takes care of key administrative duties.

If you are a landlord in the city looking for an alternative to traditional letting, consider signing up for Guaranteed Rent in London. Get in touch with us at Paul Alexander Group to find out if your property is eligible and get a detailed guide on navigating the rent guarantee landscape.