Image Credit: https://www.istockphoto.com/photo/purchase-agreement-for-new-house-gm899471458-248196705
When a property owner or landlord chooses guaranteed rent, a contract will be made between him or her and the third party (management company) stating that a fixed amount will be paid to the property owner or landlord.
As per the contract, the property will be managed by the management company, which made the contract with the landlord of the property.
If you want to rent out your real property, you will have several tasks to manage. From dealing with the issues related to real property to collecting rent, you need to manage various things related to your real property.
As this can be time-consuming, some property owners prefer to choose the guaranteed rent. By choosing the guaranteed rent, the property owner need not worry about anything.
If you have multiple properties and finding it difficult to manage them, choosing the guaranteed rent program would be the right step. As all the responsibilities related to your property will be taken care of by the management company, you can stay relaxed.
There are so many management companies that you can approach for the guaranteed rent scheme. Some of them might pay better monthly fixed payments to you, while some do not.
Some of them can be trustworthy, while some do not. Choose a management company like City Borough Housing, if you are looking for a guaranteed rent scheme.
For guaranteed rent Lewisham, it is difficult to find a better company than this.
The main advantage of choosing such a company is, they will not take any commission. You will also not see any hidden costs. You can get a fixed income on time every month. They will also handle the repairs and maintenance.
Before making an agreement
here are some important things which you must take care of:
Image Credit: https://www.istockphoto.com/photo/miniature-home-for-rent-mortgage-of-fee-concept-diy-model-driftwood-with-tag-paper-gm1211660398-351475637
- Find out who will be responsible for the repairs and maintenance. It is the management company that must take care of the maintenance and repairs. Check whether the same is mentioned in the agreement or not.
- Check the terms of the agreement carefully.
- Check whether the details related to the fixed monthly income are mentioned in the agreement or not. The details related to the fixed rental income need to be mentioned in the agreement.
- Check on which date the fixed monthly payment will be paid to you. The date must be mentioned in the agreement.
- All the terms related to the termination and renewal must be mentioned in detail in the agreement.
What if my property is empty?
When your property is empty, you cannot expect rent from it. You might be spending sleepless nights thinking about the same. When you choose a guaranteed scheme, you will get fixed monthly payments, even if your property is not rented by a tenant.
However, as the policies might differ from one management company to the other, it is better to know about their policies in detail, before making an agreement with them. Choose a company that is easy to contact always.