What is a Guaranteed Rent Scheme and Is It Right for You?
November 2, 2024
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TL;DR
Landlords face challenges with compliance, tenant management, voids, and building direct relationships with housing providers. Property management companies like Citywide Housing offer guaranteed rent, scale, and professional expertise that make life easier and investments more secure.
What’s in This Article:
Expertise & Compliance
Social housing requires strict adherence to safety and legal standards: EICRs, gas safety certificates, HMO licensing, and fire regulations. For individual landlords, keeping up with legislation is time-consuming and risky. Mistakes can lead to hefty fines or legal issues.
Property management companies ensure that properties are always compliant, keeping landlords protected and stress-free.
Relationships with Housing Providers
Housing providers often prefer working with established property management companies that have proven frameworks, processes, and a track record of trust. Going direct as a landlord can be harder, especially without existing connections.
By working with a management company, landlords instantly benefit from established relationships, making it easier to secure placements and long-term contracts.
How Does a Guaranteed Rent Scheme Work?
In a guaranteed rent scheme, a letting agent or specialist provider like Citywide Housing leases your property and pays you a fixed, agreed-upon monthly rent. Unlike traditional tenancies, where income is only received when tenants pay, this model ensures you’re paid on time, every time, regardless of tenant occupancy or potential arrears.
Citywide Housing’s Guaranteed Rent Programme goes a step further by handling property management entirely, freeing landlords from day-to-day involvement and ensuring compliance, maintenance, and tenant issues are fully covered.
Day-to-Day Management
Tenant queries, repairs, rent collection, and void management take time and energy. For landlords with full-time jobs or multiple properties, this becomes overwhelming.
A management company handles these operational tasks, allowing landlords to enjoy hands-off ownership while still receiving consistent income.
Void & Rent Risk Reduction
One of the biggest risks for landlords is void periods. Every empty week means lost income, yet costs like mortgages and council tax continue.
Citywide Housing’s guaranteed rent scheme eliminates this risk. Landlords receive consistent monthly rent even if properties are empty or tenants fall into arrears. This level of protection is rarely available in direct agreements with housing providers.
Scale & Efficiency
For landlords with multiple units or blocks of flats, scale matters. Management companies can centralise administration, maintenance, and compliance. Housing providers also prefer working with one professional company instead of dozens of small landlords, which makes processes smoother and more efficient.
Dispute Handling
Tenant damage, compliance disputes, or arrears are inevitable in property investment. Management companies act as a professional buffer, handling issues quickly and fairly without landlords having to get involved.
Access to Opportunities
Some housing providers only work with approved or established property management companies. This means landlords who try to go direct may miss out on opportunities.
Providers also prefer dealing with fewer contacts, so partnering with a management company ensures landlords remain in the loop for placements and contracts.
FAQs about Guaranteed Rent Schemes
Most residential properties are eligible, including family homes, HMOs, and blocks of flats. Citywide Housing works with landlords to determine eligibility and offers comprehensive property assessments
Learn more about guaranteed rent scheme property types
Yes. Citywide Housing handles all property management aspects, including maintenance and tenant requests, so your property remains in excellent condition.
With guaranteed rent, your role is simplified. Citywide Housing takes on all tenant and property management responsibilities, allowing you to enjoy steady income without daily involvement.
Our management service includes regular property assessments to address any maintenance or repairs as needed, keeping your investment protected.
Final Thoughts
Property management companies offer expertise, stability, and efficiency that most private landlords cannot achieve alone. With guaranteed rent, compliance support, and strong housing provider relationships, Citywide Housing ensures landlords get consistent income with zero stress.
📞 Call 0113 323 0678 or visit citywidehousing.co.uk to learn how we can help you secure stress-free, guaranteed rent today.
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