If you're currently a landlord looking to fix your rental income for the long term, be paid on time each and every month and be removed from the stress and headache of letting out a property, then look no further.
With ProVest's Guaranteed Rent Scheme we provide you with:
1. A guaranteed annual rental income on time, every month
2. Rent payments, even when the property is empty
3. Rent payments on time, even when the rent is late or not paid at all
4. No setup fees
5. No monthly commissions or
6. No hidden extras
7. Tenant's query handling service, so all questions and complaints are resolved on your behalf
8. A contract start date, guaranteed
9. Property inspections on a regular basis and maintenance management each month
10. We will refurbish the property as required in order to achieve the best quality of tenant. This is at our own cost. We will also be guaranteed handing the property back to you in (at minimum) the condition we took it over in.
It's that simple.
How does it work?
We become your tenant, guaranteeing you a fixed rental income every month, for a 2 - 5 year period initially. With your permission, we rent the property as a Co-Living House, using our robust selection process to find high-quality tenants. We manage the property throughout the full duration of our contract with you - leaving you to get on with your busy life, and us to take care of the rest.
How does it work?
We become your tenant, guaranteeing you a fixed rental income every month, for a 2 - 5 year period initially. With your permission, we rent the property as a Co-Living House on an Assured Shorthold Tenancy (AST), using our robust selection process to find high-quality tenants. We manage the property throughout the full duration of our contract with you - leaving you to get on with your busy life, and us to take care of the rest.
You will continue to receive the agreed rent regardless of whether the property is empty or the tenant stops paying rent, unless rendered uninhabitable. As such, it is in our interests to find the best possible tenant.
How long is the contract?
Depending on your requirements, we can offer contract periods from a minimum of 24 months. These contracts can be renewed periodically or extended within the outlined 6-month break clauses.
What parts of the country do you cover?
Currently, we cover the Midlands and the South East of London. Towards Q4 of 2019, we will cover more locations so keep your eyes peeled for these.
Why should I trust you?
ProVest are specialists in Co-Living spaces and Houses. To date, we have delivered and let over 30 successful Co-Living properties in various locations across the country. We are part of the National Landlords Association (NLA) and the UK Accredited Lettings Agents (UKALA).
What about the internal condition of the property?
When we secure an agreement with you, we will provide a high-quality refurbishment (where needed) to the property to bring it up to the top of the market quality. This is at our own expense. We will also take a typical deposit from the tenant, which is then registered with one of the approved deposit protection services. When the tenant checks out, the deposit is used to cover the cost of any touching up/ refurbishment works. We guarantee to take care of the re-decoration cost up to 1.5 times the monthly rent, so you don't have to.
What are the benefits of Guaranteed Rent for landlords?
Some of the main benefits to you as the landlord are:
No void periods,
No rent arrears,
No commission to be paid,
No set-up fees,
No renewal fees when you extend the contract
No other “hidden extras",
No need to deal with the tenants at all,
We are flexible with contract lengths, payment dates, and start dates.
Is it for me?
Our Guaranteed Rent service provides landlords with financial stability over the medium to long term, by giving them control on their rental income each month. Finding a letting service that provides the benefits of the best, experience-based, property management with low levels of risk can be difficult.
We might not be for everyone, but we can help anyone.
Is it an insurance policy?
No. We Guaranteed you with your rent payment each and every month. We are not an insurance firm or policy.
Guaranteed Rent Guide
ProVest is one of the UK’s leading providers of high-quality rented and shared accommodation. Guaranteed Rent is just one of the many services we provide to our landlords, investors, and clients. We are proud to offer our Guaranteed Rent service, which gives certainty of fixed rental income to our landlords, without the typical stress associated with the private rental sector.
Monthly Rent Consistency
Regardless of whether your property is full, vacant or the tenant fails to pay the rent, your monthly rent is still paid to you. This allows you to have a piece of mind whether its the first or last month of your contract with us, your rent will be paid in full and on time.
No fees or commission
There are no charges for setting the contract up, no tenant introduction fees, no commissions and absolutely no 'hidden extras' to pay.
Legal costs are covered
Occasionally there is a need for court action to evict a tenant or recover unpaid rent which can be both time-consuming and costly. With Guaranteed Rent, we will cover the cost of all court action and manage the process whilst you continue to receive your rental payments.
No void periods
We pay even when the property is empty so there are no void periods on the property for you unless the property is rendered uninhabitable. With the average void period between tenants of nearly 3 weeks a year (Paragon survey, Feb 2015) this will really help secure your income.
Same day rent payment
We pay your rent on the same day each month, giving you the peace of mind when working out budgets or cashflow for the payment of bills. There is no uncertainty, as we are your professional tenants.
We deal with the tenants
Everything from check-ins and check-outs, through to maintenance issues and complaints. We deal with it all, so you don't have to.
Guaranteed contract start date
We guarantee you a contract start date so you will know exactly when you can expect to receive your first payment. We are your tenant so we pay from the agreed contract start date.
Internal condition guaranteed
We spend our own time, effort and money when we take the property over, to improve any internal areas of the property that we believe will maximise the rental income. This allows us to ensure we attract high quality tenants from day one. If any of the tenants leave, we cover the cost of internal cosmetic touch ups and decorations (up to 1.5 months’ rent), subject to fair wear and tear, so if things do get damaged, we sort them for you.