What is Guaranteed Rent for Landlords?
GUARANTEED RENT is where we pay you rent every month regardless of whether your property is let or not, and regardless of whether there are any voids.
Are you an Estate Agent / Letting Agent?
No, we are not an Estate Agent or a Letting Agent. We rent properties from local landlords who want to continue to rent their property without the stress of having to deal with tenants themselves. We do work successfully alongside several local Letting Agents.
So how does your service work?
We are your personal Property Managers and we charge NO fees or commission. We provide quality accommodation for single, professional people working full time in the Leicester area.
We sign a contract with you for a minimum of 2 years. This allows us to manage your property fully. We ensure the property is suitable for letting, including refurbishing and furnishing it, and at our own cost where necessary.
We provide quality accommodation for working professionals. We source the tenants and deal with the tenancy agreements. We take care of any maintenance work required and we pay your rent to you every month (even if the tenants fail to pay).
In effect, we GUARANTEE your rent every month regardless of voids and we take away the headache of troublesome tenants. Your business becomes totally hands-off!
What kind of tenants do you take on?
All our tenants are SINGLE, working professionals aged 21 to 60+. We do not accept couples, unemployed people or any DSS/LHA tenants. With experience we’ve found that people co-habit much more happily together when they are all of a similar status (i.e. all working)
How do you find and evaluate potential tenants?
We advertise in several ways; on online accommodation portals such as ‘Spare Room’ and ‘Easy Room Mate’, in local newspapers and with letting agents. We have also built good relationships with local companies looking to house their employees. ALL prospective tenants must provide ID, proof of current address, National Insurance number, two references and in some cases a guarantor.
All tenants typically sign a 6 month tenancy agreement. We then extend it as necessary. There may be occasions where someone needs a shorter term due to their work contract, in these cases we assess each one individually and make a decision based on their merit. However, we do prefer long term tenants as they tend to form better co-habiting relationships.
What type of properties do you look for and where?
We will consider any property in good rental areas that have a minimum of 4 bedrooms (3 must be double) We may accept some 3 bed properties if they have a separate reception room that can be used as a double bedroom.
We also take on houses that:
- have been inherited
- need refurbishing
- have proved difficult to let or sell
Should work be required to re-configure a property or room to bring it up to our letting standards, then we will sometimes do this at our own cost.
The property must be in an area which we deem to be ‘in demand’ for professionals/workers looking to rent good quality accommodation. Generally this is near to Leicester City centre and the outskirts or close to main highways/motorways. If a property is in an Article 4 area the said property must have an Article 4 licence.
Whats the cost?
There is no charge or fees for our service to the landlord.
There is no catch. We simply make our money back on the difference we pay to the landlord and the rent we charge the tenants for good quality rooms.
We employ cleaners and a property manager. All communal areas (kitchens, bathrooms, hallways) are cleaned thoroughly once every two weeks. All maintenance and tenant issues are taken care of promptly. Our tenants appreciate this and don’t mind paying a little extra for the benefits.