The Goliath Property Solutions Guaranteed Rent Service does exactly what it says on the tin!
We work out a fixed monthly payment and then pay this to you EVERY month for an agreed period of time, usually between 3 to 5 years.
Your payment is guaranteed even if:
⬩ The property is empty
⬩ The tenants stop paying rent
It gets even better than that…
As part of the agreement with you we also cover the cost of:
⬩ All reactive maintenance during our contract period
⬩ Safety certificate renewals
⬩ Licensing renewals
So you get your fixed monthly payment no matter what!
“This all sounds too good to be true?”
“How do you make your money?”
…are two of the most common questions we get asked by landlords who’ve just discovered our service.
To follow is a more detailed breakdown of how the service works. This will also serve to give you a clearer picture as to how we’re able to guarantee your income while also making a profit for ourselves.
How Your Guaranteed Rent Is Calculated
It’s surprisingly simple – We estimate your outgoings including maintenance costs, void periods, management costs and any agency fees. Then we deduct this from your gross rental income and offer you something very close to that. It looks like this:
YOUR GROSS RENTAL INCOME – YOUR ESTIMATED OUTGOINGS = YOUR GUARANTEED RENT OFFER
We also find that by implementing our processes and systems to manage tenants, screen tenants, deal with maintenance issues etc etc we’re able to reduce void periods, arrears and successfully control costs related to the property.
In order to achieve the maximum monthly rental amount per month we’ll often refurbish the property at our own expense. This adds significant value to the property and increases it’s ‘rentability’. The uplift we achieve in rental income from this value add we’ll keep for ourselves as profit.
The beauty of this system is that it is in our interest to keep costs down, ensure void periods are minimal and that tenants are managed properly. If we don’t then it’s our pocket that suffers not yours! If only every letting agent acted like this for you!
What If I Want To Sell?
Many of our clients like the idea of a future purchase whether it be retirement planning or simply security that they have a buyer lined up in the future.
The process for working out the guaranteed rent figure is exactly the same but the big difference is that we will offer to buy your property within our contract.
We agree a price now and then purchase the property in the future, a “Rent to Buy” agreement so to speak.
If this is of interest please get in touch for further info.