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WHAT IS RENT GUARANTEE?
Rent Guarantee is a unique product offered exclusively by Britannia Property Services; your rent is guaranteed in all circumstances for a fixed term and rental amount regardless of whether the property is tenanted or vacant. We have an exclusive contract to supply 3-30 bedroom properties; the service is totally transparent, there are no upfront fees or monthly commission charges.
Rent Guarantee is ideal for landlords who want to achieve the long terms benefits of their property Investments, with piece of mind and without the problems sometimes connected to tenancies.
- Rent is paid for 2-5 years (no void periods)
- Rent is paid by direct debit every month
- No management fees
- No problem tenants
- No evictions and associated legal costs, stress & loss of rent (usually for approx 6 months with section 8’s)
- Your property is looked after (with fair wear and tear accepted)
Example: Rent Guarantee v Property Managed service
| Description: | Managed with a High Street Letting Agent | Rent Guarantee |
| Rent per month | £950 | £650 |
| 2 Years rent | 19,000 | £15,600 |
| Typical Voids over 24 months | 4 months: £3,800 | 0 |
| Typical Letting Agent Set up Fee | £600 for 2 tenancies (£300 per tenancy) | 0 |
| Property Management Commission | 12% Average, £2,280 (based on 20 months rent received) | 0 |
| Inventory Fee | £200 for 2 tenancies (£100 per tenancy) | 0 |
| Deposit protection Fee | £100 for 2 tenancies (£50 per tenancy) | 0 |
| NET INCOME RECEIVED | £12,020 | £15,600 |
HOW IT WORKS IN PRACTICE:
From a legal perspective, the relationships are very simple:
- You are the landlord
- RG Lettings is the tenant
- RG lettings (ie the tenant) sub-let the property to their own clients/tenants.
- Britannia manage the property and remains at all times the mediator and first point of contact for both landlord and tenant.
REASSURANCE/REFERENCES FOR RG LETTINGS/YOUR TENANT
Due to our exclusivity contract we are bound and restricted by our terms to provide RG Lettings contact details, however, we can confirm that Britannia hold a longstanding relationship with RG lettings (over 10 years) and manage a large portfolio on their behalf. We are able to provide full tenant referencing and bank/financial references for your reassurance as to their credibility.
PROPERTY REQUIREMENTS:
The Rent Guarantee Service is tailored to suit each landlord individually and is only offered to properties that meet our criteria. Your property as a minimum statutory and regulatory requirement must meet current Health & Safety Regulations, Furniture & furnishings (Fire) (Safety) Regulations , have Gas Safe and NICEIC electrical certificates. A HMO licence may be required where applicable. The property must be fully insured specifically for a variety of tenant types including those provided by relocation companies, housing associations, student bodies persons with specific needs including Supported living, independent living etc.
We will need to carry out a full assessment of your property to give you the correct rent guarantee figure including draft heads of terms for any proposed lease and a list of works to complete.
For further information please contact our Lettings & Management Department on: 0121 472 2200 or email: oc@britanniapropertyservices.com.