Guaranteed Rental Scheme is a new trend in the UK. The scheme is known to benefit landlords, companies or individuals, who are interested in a property for a certain period of time. As per the scheme norms, the company or individual guarantees to pay the landlord a fixed rent in a timely manner. The landlord allows the third party, known as ‘Renter’, to let other tenants reside in their property without the interference of the landlords.
Under the scheme, the renter is liable for the timely rent to the landlord. To sublet the properties, the guaranteed rental scheme has gained a lot of popularity in the UK. The guaranteed rental scheme lets the landlords enjoy a fixed monthly rent for the duration of their agreement.
You would have always seen landlords worrying about the regular source of income because either their tenants do not pay rent in a timely manner or not at all or their rental property is empty. But the guaranteed rent scheme is a saviour for the landlords as it offers them financial security and peace of mind.
Why must Landlords choose Guaranteed Rental Scheme over Traditional Letting Agents?
There is no denying the fact that guaranteed rental scheme has got to offer a lot of benefits to the landlords. With the scheme, the landlords can enjoy fixed monthly rent even if there are no tenants. Moreover, the renter will also take the responsibility of taking care of the damages caused to the property. This is so because it is their responsibility to return the property in the original condition to the landlords, hence, giving peace of mind to the landlord.
Moreover, there won’t be any management, letting or renewal fees for the landlord. The renter will have to abide by the laws that any agent would, hence, saving money and time for the landlord. The landlord can even ask for a contract from 1-5 years. This way, the landlords can budget long term.
How is Guaranteed Rental Scheme Beneficial for Renters?
When a renter takes the lease of the property, they become the landlords for the same. This gives them the authority to find tenants for the property and they can keep the rent that the tenants would pay. They can manage the property in accordance with their requirements. They can make any number of flexible arrangements with the tenants; like they can offer single rooms to tenants with some shared areas and facilities.
What are the Benefits of Guaranteed Rental Scheme?
Here are the benefits of a guaranteed rental scheme that make it worthy for the landlords.
- Landlords get fixed monthly rent for up to 5 years without any delays.
- They won’t have to go through any void periods or loss of income.
- They even won’t have to worry about maintaining their property as the individual or company would be responsible for it.
- The landlords will get their property back in the same condition.
There are many companies that are offering a guaranteed rental scheme in the UK to the landlords. You can choose a company that offers the best services to you in accordance with your requirements.