Our guaranteed rent scheme allows landlords to maximise their rental returns, minimise their involvement in day-to-day management, and enjoy a stress-free rental experience in Lewisham.
As a company, we have many years of experience delivering guaranteed rent schemes. Lewisham is a vibrant borough with a thriving rental market, and guaranteed rent scheme in Lewisham is a way to make it less stressful and less risky for property owners to enter the world of domestic letting. Get in touch and find out how we can help you make your property work harder for you.
What is a guaranteed rent scheme?
With the help of a guaranteed rent scheme, Lewisham landlords are able to pass the management of their property to a property management firm, usually a specialist guaranteed rent company. Lewisham landlords are then not only liberated from every day property management duties, but are also guaranteed an agreed monthly rental which they receive whether there is a tenant in the property or not.
How does the rent guarantee scheme work in Lewisham?
Guaranteed rent for landlords in Lewisham could not be simpler. Landlords will call us, one of our experienced team visits the property to assess its rental value and agree a monthly rental amount with the landlord. Once that is agreed, we take a full photographic inventory and move tenants in. With guaranteed rent Lewisham property owners are freed from the stresses that often go with being a landlord.
Are rent guarantee schemes worth it?
We firmly believe that they are. When they join guaranteed rent schemes, Lewisham landlords are freeing themselves from the financial insecurity that comes with unguaranteed rental income. Sometimes tenants move on. Sometimes tenants are late with their rent. If you are relying on that rental income, this can be a problem. Guaranteed rent schemes remove that insecurity and you simply cannot put a price on peace of mind.
What are the benefits to landlords?
With guaranteed rent schemes, Lewisham property owners reap many benefits. The most obvious is that guaranteed rent and the financial security that goes with it. But it is also worth mentioning the property management Lewisham landlords will benefit from while on the scheme. We would handle finding and vetting tenants, inspection, maintenance and repairs leaving you free to do other things.
What should I consider before I enter a guaranteed rent scheme?
Before entering a guaranteed rent scheme, Lewisham landlords should think about how long they want to be landlords for. You will be entering into a contract, so think hard about whether you see your property as a source of long term rental income, whether you might want to sell the property at some point, and whether you might plan to live there yourself one day. The term of the agreement could be anything between six months to five years, so give some thought to when you might want the property back.
What if the tenant damages the property?
Accidental damage is often unavoidable and who is responsible for what kinds of repairs is clearly stated in the tenancy agreements. If a tenant has been irresponsible and leaves a property in an unacceptable condition, we may apply their security deposit to set things right, and of course in the case of serious criminal damage we always have recourse to the law. In reality however, our vetting and inspection practices mean that this is an issue that rarely arises.