Guaranteed rent is a brilliant alternative to traditional letting, giving landlords complete peace of mind that the rental income is guaranteed, every month.
With a guaranteed rent contract, the estate, such as ourselves, essentially takes on the role of your tenant. We then sublet the property to the tenant. Then, we pay you the rent every month, even if the tenant misses their payment.
Guaranteed rent in Millwall can safeguard you from missed payments or empty periods. Whether you own a single property or a whole portfolio, guaranteed rent is a great solution.
The Advantages and Disadvantages of Guaranteed Rent
At LTA Direct we value transparency, we want to present the positives and the negatives, so you can be sure whether guaranteed rent in Millwall is right for you.
The pros of guaranteed rent:
1. We’ll start with the biggest one, your rental income is guaranteed every month
2. There are no hidden costs or extra charges, the price you agree with the provider is the amount transferred to you every month
3. You don’t need to deal with management tasks such as tenant referencing and Gas Safety checks, the provider will handle these
The cons of guaranteed rent:
1. It can take a while to set up, especially if you go for a council-backed guaranteed rent scheme
2. You have little to no choice over who lives in the property
3. Your property might rent out for lower than if you were to rent it out yourself
Find Out More About Guaranteed Rent in Millwall
To get an idea of what your property could achieve, use our no-obligation rent calculator. Or, if you’d like to discuss the finer details, get in touch with our team.