|
Landlord Fully Managed Service VS Guaranteed Rent Service Owning property allows you to let the property to qualified tenants. The issue which arises for many landlords is the time it takes to manage the property. Finding tenants, managing the property and collecting rent can take a lot of time. This is why services are often used to take these kinds of tasks off of the landlord. The two main options to consider when looking for help is a fully managed service or a guaranteed rent service. Each service has benefits to the landlord. Taking a look at each one can help you to decide which one might be right for you. Landlord Fully Managed Service If you have a property you want to let, a fully managed service can help provide you with tenants to occupy the property. Those who manage the property will be charged with locating new tenants for the property and collecting the rent. You will pay a fee for the collection and management of the property when using this service. If tenants are unable to pay their rent, it is the responsibility of the managing service to evict the tenant through legal procedures. Management of the property includes scheduling for repairs to the property. You will be responsible to pay for the repairs needed unless you have our Landlord Insurance Coverage. The management company will conduct inspections of the property including at the beginning of the rental agreement, at the end of the rental agreement and periodically throughout the contract. When using our Landlord Rent Guarantee service, you do not have to deal with the hassle of finding and maintaining tenants in the property. You are insulated from having to deal with questions from the tenant about day to day management issues. Consultations will still be necessary whenever dealing with legal issues or maintenance issues. Guaranteed Rent Service The biggest problem with owning a property is that you will not receive income if you do not have anyone living in the property. This is an issue which is addressed with guaranteed rent service. This service allows you to receive income from the management company whether the property is currently being let or not. These schemes generally include everything in a fully managed service along with guaranteed rent payment to the owner of the property. All of the costs of letting the property are completely paid by the management service. Everything from finding tenants to collecting the rent to managing the property is included in the services. You will only need to provide a property which is up to the required legal minimums for the Decent Homes Standard. Some maintenance costs may still fall upon you depending on which management company you choose. Those who have properties which are hard to let or multiple properties to maintain find that guaranteed rent service is beneficial. It provides the minimum attention on the part of the property owner. Owners are guaranteed to receive payment of rent every month regardless of any circumstances for the property. You will be required to maintain a Rental Insurance Coverage on the property as well as a permission to let in some instances. Either scheme provides the property owner the ability to maintain a property which provides a constant source of income. Using schemes such as fully managed or guaranteed rent service provides owners the ability to own multiple properties.
Related Articles -
rental insurance coverage, landlord insurance coverage, Become a Landlord, Becoming a Landlord, Landlord Building Insurance, Landlord Content Insuran,
| 
