Guaranteed Rent

Our Guaranteed Rent service gives you a guaranteed, fixed monthly income that you can rely on. It’s as simple as that. We take away the worry of tenants paying late, your property standing empty, or a dip in market rents. Sign up to our Guaranteed Rent service and enjoy peace of mind and the ability to plan your future finances.

Contact us for a free valuation, and find out how much guaranteed income your property could generate for you each month.

FREQUENTLY ASKED QUESTIONS

What is Guaranteed Rent?

We agree a monthly rent with you, and we pay you that amount each month. It doesn’t matter whether your property is empty or the tenants are behind in making payments. We carry the financial burden to ensure that you have a regular income you can rely on. When you join our Guaranteed Rent scheme, we effectively become your tenant. We pay you a monthly rent and sublet the property to other, quality-checked tenants through an Assured Short-hold Tenancy agreement. Any damage to your property, or eviction proceedings, will be covered by us.

How long does a Guaranteed Rent agreement last?

We provide contracts for a minimum of 12 months and a maximum of five years, depending on your needs. There’s also the option of having contracts that automatically renew on a rolling basis.

Why should I choose Ascott Homes’ Guaranteed Rent service?

Even though the rent we will offer you is a little lower than market value, we take all the financial burden and risk of something going wrong, potentially saving you thousands of pounds and plenty of hassle. We are very selective about the tenants we choose, and we only rent to tenants in the private sector. As members of the Property Ombudsman Service you can be assured that we adhere to the highest ethical standards. We also provide, as standard:

  • A 0% commission property management service
  • A property inspection every four to six weeks
  • A free inventory of the property
  • Gas safety check, electrical safety test and Energy Performance Certificate
  • Management of any damage done, including claiming damages and carrying out repairs
  • Painting, cleaning and making good the property for new tenants
  • Minor repairs carried out for free
  • Access to our customer services team for any issues or concerns

What other benefits can I gain from Guaranteed Rent?

  • A choice of contract length, between one and five years
  • Set up rolling contracts to reduce the hassle for you
  • Monthly rent that is close to market value
  • Rent payments made on the same day, every month
  • Full rent paid even when the property is vacant
  • Evictions, damages and repairs all taken care of
  • No hidden fees or commission
  • Tenants vetted as suitable for your property
  • Deposits managed for you
  • A fully-managed property service as standard

To be honest, at first I was a bit sceptical about not receiving the extra £50 a month in rent that I could receive if I dealt with things directly. What swung it was an episode of ‘Can’t Pay? We’ll Take It Away!’. The TV programme covered a story about a family being evicted for failing to pay their rent. After they had vacated his property, the landlord explained what had happened. Initially everything with the tenants was OK. However, due to a few issues, they refused to pay their rent and were not taking care of the property. The head of the family was very aggressive and while the landlord had good reason to evict the tenant, as it was a family with children, the process took a very long time. The landlord spent over 18 months going through all the proper procedures for eviction. It cost him over £20k in lost rent, which he is highly unlikely to get back. There were three court hearings, which cost over £1,000, and two bailiffs, which also incurred over £1,000. And he faced a considerable bill to bring the property back to a decent standard. The TV programme got me worried and I decided to talk to a few experts. When I met with Ascott Homes, they explained they had dealt with a similar situation to the one shown in ‘Can’t Pay? We’ll Take It Away!’. Their client was a landlord living abroad and initially he was not even aware of the problem because Ascott Homes took care of everything and had guaranteed rent, so there was no gap in payments. Yaz at Ascott Homes was very transparent about the costs. He said the landlord receives about £100 less each month, £1,200 per year, than if he managed it all himself. But this loss pales into insignificance considering the £25,000 costs he could have incurred. It was all the convincing I needed, and have not looked back since.

Richard Canopie, Finsbury Park, London - 2018