Is Rent Guarantee Insurance Worth It?

Guaranteed rent is a service offered by some property management companies or rental agencies, where they promise to pay the landlord a fixed monthly rent regardless of whether the property is occupied or the tenant pays. This can be an attractive option for landlords who prioritise the reliability and predictability of their rental income.

One of the primary benefits of guaranteed rent is the financial security it provides.

Landlords can rest assured that they will receive a consistent monthly payment, even if the property is vacant or the tenant defaults on their rent. This can be especially valuable for landlords who rely on rental income to cover their own expenses, such as mortgage payments or property maintenance costs.

Additionally, guaranteed rent can simplify the landlord's responsibilities by transferring the burden of tenant management to the property management company.

The landlord no longer has to worry about collecting rent, dealing with late payments, or initiating eviction proceedings. This can be a significant time and stress-saving advantage, particularly for landlords who own multiple properties or have limited experience in property management.

However, it's important to carefully evaluate the terms and conditions of any guaranteed rent agreement, as the amount offered may be lower than the market rate. Landlords should also consider the reputation and financial stability of the property management company to ensure that they can reliably fulfill their guaranteed rent obligations.

Are you a landlord interested in guaranteed rent for your property for a minimum of 3-5 years with no voids or maintenance ? then let’s have a chat.

Guaranteed Rent

Rent freeze is when the government puts a cap on the maximum amount of rent a landlord can charge to a tenant, the idea is to help consumer spending however it often results in slower economy growth.
a fair increase is one that aligns with the current market value of the property for rent in that area.
This should be stated inside of your tenancy agreement it could say 4 weeks notice or at the end of a fixed term.

FAQ

Visit our blog to learn more about Landlord rights, information on eviction processes & guaranteed rent for landlords

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All Area’s We Cover For Guaranteed Rent

At Stayful, we secure a deposit from our clients to address all maintenance needs, relieving you of the task of coordinating tradespeople or attending to tenant requests. Additionally, we ensure the rapid resolution of any maintenance concerns within a 24-hour timeframe.
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Guaranteed rent provides landlords with a consistent and predictable income, eliminating void periods, reducing administrative burden, and ensuring regular payments. It’s especially advantageous competitive rental market, offering financial stability and peace of mind to property owners.
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Yes, guaranteed rent agreements cover vacant properties, ensuring landlords receive a fixed monthly income even if the property is unoccupied; that’s the main benefit of the guaranteed rent system. Learn more about the Stayful guaranteed rent service here.
Yes, landlords can transition from traditional tenancy agreements to guaranteed rent schemes. However, it’s important to review the terms of the existing tenancy agreement, including notice periods and tenant rights, before making the switch. Proper communication with existing tenants and compliance with legal requirements are crucial during this transition to ensure a smooth process.
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There are no unordinary fees associated with a guaranteed rent. From a landlords perspective it is just like a normal tenancy. Learn more about guaranteed rent with our full guide Here
to answer the question in short, yes a landlord can refuse to allow pets inside of their property, often because pets can create excessive wear and tear on a property, if you want to know if your landlord will allow pets you can check your tenancy agreement or ask your landlord, cead our F&Q below for more information and common questions around pets in rented accommodation.
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There is no legal limit on how much landlords can increase rent by in the UK, however they are tied to the market as if they are trying to rent above this rate, they will not be able to find a tenant.
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Guaranteed Rent / Landlord FAQ

Normally you have 2 eviction process, section 21 and section 8, because you have no tenancy you will have a section 8 which you can use to be able to evict a tenant in the absence of a written tenancy agreement, you will need to go to the court and seek accurate legal advise before proceeding further.
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Often there will be 2 types of eviction on a standard AST agreement Section 21 - Sometimes called a “no fault” eviction you will need to give 2 months notice. Section 8 - This is because a tenant has breached terms of agreement for example no rent being paid or paid late, this can be between 2 weeks and 2 months depending on which term has been broken.
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You will have to get a court order to evict a tenant, it is important to get the notice correct from the beginning as if your tenant challenges this notice and they can’t prove why it is wrong, they will have to pay for all of your court costs, a normal eviction process is between 2-8 weeks from the first letter.
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Are you a landlord in the UK looking to evict a tenant? Understanding the eviction process can be challenging, but don't worry, we're here to help. In this comprehensive guide, we'll walk you through the necessary steps and answer one of the most common questions: How many months' notice is required to evict a tenant in the UK?
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depending on the type of notice that you give and the kind of tenancy that you have in place, you may not need a reason to evict your tenant.
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To give you a rough idea it can cost between £1000-£2500 to evict a tenant in the UK depending on which route you go, how willing the tenant is to leave and how far in court proceedings the case has gone.
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In Yorks’s guaranteed rent schemes, the management company typically handles tenant selection. They find suitable tenants, conduct background checks, and ensure tenants meet the necessary criteria. This professional approach minimises the risk of problematic tenants, providing landlords with reliable and responsible occupants for their properties.