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WHAT IS A GUARANTEED RENT SCHEME?
A property owner will enter into a contract with a third party which can be a company, council or a person who then takes responsibility for the managing the property. The property owner will hand over responsibility to the third party to sublet the property to tenants whilst managing and taking care of it, which includes matters like paying property bills, finding new tenants and maintenance of the property. Most importantly, the third party will pay the property owner a monthly rent.
WHAT ARE THE BENEFITS?
It’s understandable after the last year in the UK that many landlords are concerned over their financial security. This is driving a surge of interest in guaranteed rent schemes and it’s easy to see why with the multiple benefits they offer:
GUARANTEED RENT PAYMENTS, WITH NO VOID PERIODS
It really is what it says on the tin; since the third party will be paying the rent, you will be guaranteed rent as owner of the property regardless of whether there is anyone living in the property or not and removing the risk of troublesome tenants. Here at ZFA Group, we will pay you the same day your property joins the scheme.
FREE MAINTENANCE
You don’t need to worry about performing maintenance checks or setting aside money for maintenance costs, we will look after your property and investment.
0% COMMISSION
Most commonly the rent agreed will be the amount in full that you will receive from your assigned third party each month. Most guaranteed rent providers will not charge you any commissions on your property or any managements fees over and above your agreed rent.
NO ADDITIONAL EXPENSES
Any additional costs such as council tax, property bills, or the costs associated with finding new tenants will be the responsibility of the third party to cover.