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  • Writer's pictureElliot Leigh

Benefits of Guaranteed Rent Schemes


pile of cardboard boxes in an empty bedroom

Landlords who don’t want to face the daily responsibility of managing a property and managing tenants, will often hire a letting agent to save them the hassle. The basic principle of Guaranteed Rent is fairly simple; the landlord and letting agent enter into an agreement which effectively makes the letting agent the landlord’s tenant. In this blog we discuss the benefits or Guaranteed Rent and why you may choose this as an alternative to traditional letting.


Void Periods? Still Receive a Guaranteed Rental Income

As the name suggests, Guaranteed Rent schemes provide the Landlord with a guaranteed rental income each month, despite void periods and missed rent payments from the tenant. When you sign an agreement with a Guaranteed Rent Agency, the responsibility to pay the Landlord lies with the company so tenant arrears become a thing of the past.

 

At Elliot Leigh, our guaranteed rent scheme ensures you get paid on the same day every month, regardless of if a tenant is in arrears or if the property is empty for a period of time.


Hassle Free Landlord Experience

Guaranteed rent schemes can be perfect for those who are after a hassle-free service. For example, those who live far away from their property or those who want to rent their property but do not want to deal with tenants. 


With a guaranteed rental agency, the agency will take control. For instance, the agency will give you a monthly income whether or not a tenant is in place. Most will deal with tenant problems and maintenance issues as well. It really does make a huge difference for property owners and that is why Guaranteed Rent is becoming more & more popular. 


From general maintenance, to tenant management, to keeping up with legislation and more, Elliot Leigh provides Landlords with a full property management service. Our guaranteed rent scheme is designed to take the stress and time consumption out of letting and managing a property. We offer you round the clock support dealing with any problems, whatever time of the day or night they arise. 


Regular Inspections

We hold regular property inspections, at 8 - 12 week intervals,  and maintenance is completed when necessary, to ensure your property is maintained to the highest standard throughout the entirety of the guaranteed rent agreement. Furthermore, as part of the guaranteed rent agreement, your property will be returned in the same condition it was taken on in. If there is any damage or wear and tear to your property, the estate agent managing it becomes responsible for this.


Round the Clock Maintenance

Elliot Leigh have a fully trained and qualified in-house maintenance team that will deal with all repairs at the property. All contractors that are used are accredited using our rigorous approval process and are members of the required regulatory body for their field.


Every time a tenant moves out during the agreement term, Elliot Leigh will arrange for all required works to be completed so a new tenant can move in. This includes minor maintenance such as painting, cleaning, small damage repairs etc without a charge to the landlord.  We will also carry out a 'check in' each time a tenant moves in, showing them how the appliances work, taking meter readings and providing the tenants with local information.


No Furniture Required

Many Guaranteed Rent Schemes will not require furniture in your property. Not only does this save you the cost and hassle of installing the furniture, but also reduces the stress and worry of having to replace & upkeep furniture in your property. At Elliot Leigh, we only ask that Landlords provide a fridge-freezer and a cooker in their properties.


For over 20 years, Elliot Leigh have worked in partnership with Local Authorities and housing associations, allowing us to provide the best rent & service. All of our staff are friendly, well trained and dedicated to ensuring we meet a client’s demands and expectations. We have a number of in-house specialist contractors such as gas safe engineers and electricians to minimise landlord costs. Plus, we have numerous multi trade operatives, painters and cleaners who are all qualified and experienced in their relevant field. Click to find out more about Elliot Leigh Guaranteed Rent.



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