As a landlord, you'll want the reassurance of knowing that you’re going to receive your rent on time each month. This not only gives you a steady, regular stream of income, it also allows you to plan ahead and think about expanding your portfolio with more confidence.
That's where Rent Guarantee can be so important, offering landlords and investors peace of mind that their rent will be paid each and every month.
A Rent Guarantee (also known as guaranteed rent) pretty much does what it says on the tin. Landlords who sign up to a Rent Guarantee scheme receive rental payments each month regardless of whether the property is occupied or not.
Typically, schemes last for between one and five years depending on circumstances, and can be renewed where appropriate. All rental payments are paid directly by the letting agent to the landlord.
With void periods (where a property is empty and costing more money than it's bringing in) the biggest fear for many landlords, stripping this away with guaranteed rent means those worries and concerns disappear.
Even though the private rented sector is in rude health at the moment – with a rising number of households renting and expected to grow further in the coming years – it can still have peaks and troughs which need to be navigated.
For whatever reason, you could find your home unoccupied and it's at these times that your investment is put at risk. Guaranteed rent keeps those risks at bay, giving you the breathing space required to source new tenants or reconsider your options.
What's more, even those tenants with the best references and an excellent tenant history can sometimes fail to pay rent thanks to circumstances outside of their control. This could include redundancy, sudden bereavement, the breakdown of a relationship, severe illness or a host of other reasons.
In these situations, Rent Guarantee is designed to protect you and your investment, giving you peace of mind that you won't be left out of pocket.
At Angels Sales & Lettings we aim to make letting property as risk-free as possible with our HomeLet Xpress Rent Guarantee product. You can sign up for between one and five years and rest assured that you'll be paid your rent each month – directly by us – even if your home is unoccupied.
This can help to save you money, protect your investment and ensure your stress levels are kept low.
As well as our guaranteed rent product, we also offer legal expenses cover to offer further protection.
For more information about what we can do for you, please get in contact with Angels Sales & Lettings on: 0800 043 6778.
To find out how much you could be generating in rent each month, why not request a free and instant online valuation?