Many letting agents advertise some form of "rental guarantee". To the best of our knowledge all of them, apart from ours, are insurance based.
This means that the letting agent will sell you an insurance policy (and earn commission from this) to guarantee your rent. Often the policy sets out certain terms and conditions in relation to how Tenants are referenced and almost all of them include an "excess" which is usually a month's rent. Hardly a guarantee.
Our rental guarantee is a simple contract between you (our Landlord) and us. It states that whilst the Tenants occupy the property we will pay your rent on time, every time regardless of whether the Tenant(s) pays us. It really is that simple.
One of the down-sides of an insurance based guarantee scheme is the need to claim for any lost rent. This, of course, causes a delay in payment to you. With our guarantee scheme, even if the Tenant is late paying rent you will be paid. Without rent guarantee you would effectively miss a payment until the Tenants account was up to date. This is not helpful if you have a mortgage to pay.
The cost of the scheme is just 2% of the monthly rental (plus VAT). To get onboard it's simple. For new Landlords, select the option when signing your management contract. For existing Landlords, just request a rent guarantee contract and we will set it up.