Guaranteed Rent

This is the second client we have had like this. Both near identical.

The second chap let the property on two x 5 year terms to a local housing association that didn't want to renew. We took over the management and agreed a 5 year fixed term. We were able to offer a hundred pound more per month, than the housing association were paying.

In both cases, the landlord wanted to hand over the keys and management, with zero deductions.

• No agency fees, no maintenance fees.
• The rent to by paid via standing order, on the same date, the same amount, no deductions.

In the first case, the landlord also wanted us to pay the service charges and mortgage. He didn't want to know about any changes in the tenant, complaints, or maintenance. We didn't speak for 5 years.

5 years passed and I tried to get contact him with no joy, but it didn't matter, we had it all covered and continued to run the management of the property. Another 3 years passed and I then heard from his solicitor when he passed away. He wanted to make sure the management was professionally handled, whilst he moved into a care home. The solicitor had been receiving his bank statements and mortgage statements to ensure everything was in order, and had no need to contact us.

The second client, very similar. We agreed in 2018. The 5 year term had expired and when I tried to contact him, his sister responded saying he had dementia and to keep everything in place. His sister had been receiving the bank statements to ensure the monthly rental payments were received.

There is a lot of trust here, and its important to understand - who you are dealing with, the local reputation, professionally qualifications, experience and whether professionally regulated. Even then, knowing all this, in both cases, each landlord had a second party (a trusted solicitor, and a trusted family member) checking up and making sure we were sticking by the agreement.

So ... who are you dealing with ? Check out the founder.