Becoming a landlord for the first time can be stressful. Managing multiple rental properties is time-consuming. Worrying about whether your tenants will pay their rent on time is a hassle.
But it doesn’t have to be like this. Cartter and Co help landlords, just like you, overcome the stress and the hassle of letting rental properties.
With over 10 years of experience in property rental and management, Cartter and Co can secure your financial future with our Guaranteed Rent scheme. The scheme offers landlords a fixed monthly rent throughout the duration of the agreement, with varied contracts available from 1 to 5 years.
What is guaranteed rent?
Guaranteed Rent is where a third-party company or individual guarantees to pay a fixed rental fee for a property. The duration of the fixed rent is agreed between the landlord and the third-party and the agreement can last as long as several years.
There are different Guaranteed Rent scheme options, including council, insurance, and letting agencies. Each option comes with a range of pros and cons, which need to be carefully considered before choosing the right option for you.
Council Guaranteed Rent schemes offer social housing to those who need it and ensure landlords receive a guaranteed monthly rental income. However, sometimes the monthly income is lower than other schemes and you won’t get a say over who your tenants are.
Insurance Guaranteed Rent schemes provide peace of mind if a tenant fails to pay their rent. However, the claims process is lengthy and may result in landlords without rent for many months before they are paid. This option also doesn’t cover rent when the property is empty (known as void periods), which means you’ll only receive a rental income when the property is occupied by tenants.
Letting agency Guaranteed Rent schemes minimise stress and risk for landlords by agreeing to a fixed rental payment over an agreed period. The monthly income is often higher than the other Guaranteed Rent options and the landlord doesn’t have to deal with the tenants or property maintenance. However, this option requires the property to be in an area with high rental demand, and you’ll also have limited control over the tenants or maintenance of the property. This can be mitigated with strong vetting procedures and working with a letting agency that you trust.
Cartter and Co’s Guaranteed Rent Scheme
At Cartter and Co, we offer a letting agency Guaranteed Rent scheme. This means we become your tenant and ensure that you receive a rental income each month, no matter what.
The rent is a guarantee, so if the property is vacant or if the tenant doesn’t pay their rent you will still receive rental income from your property. Buy-to-let investors who want peace of mind that their property is earning a profit throughout the year can benefit from this scheme.
As a landlord, you can save money because we also cover all the costs that may be incurred during the agreement. For example, we cover the cost of damages and repairs, evictions, and property management.
Our Guaranteed Rent scheme means that we sublet the property to a tenan, freeing up your time and relieving you of the stress that comes with being a landlord. We find suitable tenants and deal with everything that is involved in letting your property, from signing tenancy contracts to ongoing management.
What are the benefits of a Guaranteed Rent scheme?
A landlord who uses a Guaranteed Rent scheme can save themselves money, time, and stress.
But how exactly does it do that? And what are the benefits of our Guaranteed Rent scheme?
Save money
Cartter and Co’s Guaranteed Rent scheme offers guaranteed rent payments on the same day of every month, even if the property is empty. You can even choose the dates you want the rent to be paid into your bank account. This saves you money in between tenants or if the property is taking longer to let than usual.
You can expect to receive market value rent with our agreement, which means you don’t lose money on what your property is worth. Unlike many other Guaranteed Rent schemes, our scheme aims to get you the money you deserve for your property.
All repairs and damages are covered by us, so you don’t need to worry about those extra and unexpected costs. On top of that, you’ll also save money as we have no commission, set-up fees, or any other hidden costs to consider.
Enjoy your free time
Opting for a Guaranteed Rent scheme not only saves you money, but it also saves you time. At Cartter and Co, we lease your property from one to five years, which means you don’t need to find tenants.
Finding tenants can be a lengthy process and one that many landlords don’t get right. Choosing our Guaranteed Rent scheme prevents you from wasting your time looking for tenants and chasing up late rent payments.
We know that you have a busy life and that being a landlord isn’t the only thing you have to do. Which is why our Guaranteed Rent Scheme also comes with full property management. By managing your property, we can eliminate the stress of landlord duties and free up more of your valuable time.
Avoid landlord stress
Nothing is more stressful for landlords than late rent payments and tenants who are uncooperative. With our Guaranteed Rent scheme, we take away this stress from you. We only choose trustworthy and reliable tenants, and if for any reason their rental payment is late, we deal with it and still pay you the rental income for that month.
Empty properties can also cause financial stress for landlords. While an empty property often means that you aren’t receiving rent and that you need to spend time looking for new tenants, this is not the case with the Guaranteed Rent scheme, as you receive a monthly rental income no matter what. You can also say goodbye to the stress of finding suitable tenants for your rental, as we can take care of that too.
Due to our selective process when it comes to properties and tenants, we only take on the very best. This enables us to protect the interests of ourselves and our landlords. However, if for any reason the tenants need to be evicted, we will manage this for you, meaning you don’t have to deal with the awkward and stressful eviction process. The best part is that there are no extra charges or fees for you if the tenant needs to be evicted.
How can Cartter and Co help?
At Cartter and Co, we’ve created a streamlined and easy Guaranteed Rent scheme that puts you in control of your property and money. If you want to rent out your buy-to-let properties without the stress and the hassle of being a landlord, we can help.
Our process is simple and ensures peace of mind for you throughout the contract.
Firstly, we agree on the monthly rental price of your property. This fixed amount is how much we pay you each month, regardless of whether your property has tenants or if the tenants have paid their rent.
Secondly, we agree on the duration of the Guaranteed Rent scheme. At Cartter and Co, our contracts have a minimum of 12 months and a maximum of 5 years. We know that things change, so we also offer flexibility with our long-term contracts in the form of contract renewal on a rolling basis.
After you have agreed to the fixed monthly rent and duration of the Guaranteed Rent scheme, we become your tenant. Once we are your tenant you don’t need to do anything more. We take care of everything else.
We sublet your property to a suitable tenant who we know will abide to the Assured Short-Hold Tenancy agreement. However, you can start earning as soon as we agree on the Guaranteed Rent scheme. This is great news for you, as you won’t need to wait until we find a tenant – you’ll receive a rental income straight away.
If the tenant we’ve subletted to damages the property, doesn’t pay rent or needs to be evicted, we deal with and cover all of the associated costs. Similarly, we also cover gas and electricity maintenance, ensuring the property is up to date with the latest fire and safety regulations.
Which areas do you cover?
Our Guaranteed Rent scheme operates across London and the South East of England. We believe there is a particularly high demand for rental properties in these regions and as such wish to support and give peace of mind to landlords in the following areas:
- Central London
- North London
- East London
- South London
- West London
Are you looking to take the time and stress out of being a landlord without losing your valuable rental income? Then fill out our contact form to find out how a local property expert can help you with your rental property. Alternatively, you can call our team or email us now to see if you can benefit from our Guaranteed Rent scheme.
