Some agents offer a "rent guarantee" scheme which states that you will be paid whether your property is occupied or not.
Often, you are paid a percentage of the true market rent for the property. Sometimes this is 70% or lower. Effectively, your letting agent becomes your Tenant and sub-lets to other Tenants. You should look into your mortgage terms and conditions for clauses about sub-letting.
We are sure that all agents offering this service try to operate ethically but, all things considered, if you were an agent guaranteeing to pay rent on an empty property, perhaps the quality of Tenant selection criteria could be compromised during the re-let period?
This is not how our scheme works.
When we say "GUARANTEE" we mean it! We guarantee to pay 100% of the market rent to you as long as your Tenant is occupying the property and whether they pay us the rent or not. In terms of gaps between tenancies, we are confident that our reputation as the largest letting agent in Peterborough and our far reaching property marketing will ensure your property re-lets quickly minimising void periods.
When an agent says "Rent Guarantee" - look into the small print!
We pay full market rent for your property under our guarantee scheme