Guaranteed rent reviews?
The
council’s guaranteed rent can be particularly attractive to landlords who have inherited properties in less desirable locations with slow or stagnating rental prices. These guaranteed rental arrangements can be great as long as the rental agency can continue to pay your rent. Their service is top-notch and the guaranteed rental system is perfect for landlords who want a risk-free approach. From there, the startup performs the approved maintenance and cleaning, and then methodically lists the house on all top rental platforms.
It also handles all algorithmic pricing, advertising, tenant interviews, repairs, maintenance, leases, and online payments in exchange for 8% of the rent. The third party, effectively the landlord’s tenant, pays the landlord a fixed monthly income over a specified period of time and usually guarantees a percentage of the rental income that can be achieved. With Doorstead, you can rent out your house efficiently with turnkey service, even if the owner lives far away. Other property management startups such as Mynd, OneRent and BelongHome only offer guaranteed rent when tenants are found, thus releasing most of the risk.
If you’re willing to wait and don’t rely on this property’s income to pay the mortgage, a guaranteed rental insurance might be worth your while to put your mind at ease. We strongly recommend doing thorough due diligence with any rental agency that offers guaranteed rental services by reviewing their credit and financial history at Companies House. Most property managers charge at least 50% of the first month’s rent, but instead Doorstead keeps the entire rent any additional days if it fills the space before the guaranteed due date. No, because property managers do not guarantee you rent in line with the market, nor do they have incentives to find great tenants for your property.
