What is
GUARANTEED RENT
Are you seeking Guaranteed Rent, consistently delivered on time every month?
Guaranteed Rent, also known as 'rent to rent', offers landlords a stable, risk-free rental income. It involves signing a contract with an agent, such as a property management company like Sahara Suites, who then sublets the property. They may utilise it as a holiday let or rent it out to long-term occupants.
Guaranteed rent agreements typically last 3 to 5 years but can extend much longer if both parties are satisfied, which is often the case. Throughout this period, you'll receive fixed, regular payments regardless of the property's occupancy status or income generated.
During the contract duration, the guaranteed rent company assumes responsibility for all aspects of property management and maintenance. Refer to the Frequently Asked Questions below to learn more about what maintenance entails.
HOW DOES GUARANTEED RENT WORK ?
1
APPLICATION / PROPERTY APPROVAL
Once you've completed the guaranteed rent inquiry form, we will review your property/application and conduct some background research to provide you with a quick estimate of our offer.
We’ll then get in touch to inform you of your property's potential value and arrange a viewing as soon as possible. Our goal is always to offer market rent or above for your property.
3
THE TENANCY STARTS
Once the terms of the guaranteed rent agreement have been confirmed with you as the landlord, we will take responsibility for the upkeep of the property and pay the first rental installment.
We’ll arrange any necessary upgrades to the property and begin using it to provide our clients in the area with high-quality serviced accommodation. After the property is set up, we always encourage our landlords to view it in its full glory.
2
AGREEMENT / VIEWING
After viewing your property, we will provide you with a revised formal offer within 24 hours, which you are free to accept or reject.
This offer will include our terms, the length of the contract (usually 3-5 years), our plans for any necessary work, and detailed rent payments.
We are very flexible regarding terms and welcome any suggestions from landlords or agents.
4
ANNUAL REVIEW
Towards the end of the contract, we will let you know if we would like to seek to extend the contract. In most cases, we will look to complete an annual review where we show our intention to extend the contract.
If both parties agree to renew, then we will discuss a new contract, or simply extend the existing one. Should the parties agree to go our separate ways, we will return the property to you in the same, if not better condition as when we took it on.
GUARANTEED RENT
LOCATIONS
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What is Airbnb Property Management?Airbnb property management refers to the services provided to landlords who rent out their properties on Airbnb. The goal of Airbnb property management is to ensure that the property is well-maintained, clean, and ready for guests at all times. Just a few of the key tasks involved in Airbnb property management include: Guest communication: Responding to inquiries and messages from potential and current guests in a timely and professional manner. Check-ins Cleanings: Ensuring that the property is clean and ready for guests before and after each stay. Maintenance: Handling any repairs or maintenance issues that may arise during a guest’s stay.
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Can someone manage my Airbnb for me?Yes, it is possible to hire an Airbnb management service such as Sahara Suites to take care of all the tasks involved in managing an Airbnb property. An Airbnb management service will handle everything from guest communication to cleaning and maintenance, allowing the landlord to be more hands-off. This can be especially useful for landlords who do not live near their Airbnb property or who have other obligations that make it difficult to manage the property themselves. Having a management company manage your Airbnb can save a lot of time and money!
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What percentage does a Airbnb Management company take from the landlord?Airbnb Management company fees can vary however Sahara Suites charge landlords 15% + VAT of the booking subtotal to manage everything for you.
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Is an Airbnb difficult to manage?Managing an Airbnb property can be time-consuming and requires a lot of attention to detail, but an experienced Airbnb professional or management company such as Sahara Suites can handle it effectively. The key to successful Airbnb property management is to have a solid system in place for guest communication, check-ins, cleanings, and maintenance. An Airbnb management company can provide this system and ensure that the property is always ready for guests.
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Is it worth it to hire an Airbnb management company?Yes, hiring an Airbnb manager can be worth it for landlords who want to save time, improve guest experience, and maximise profits. An Airbnb management service will handle all the tasks involved in managing an Airbnb property, including guest communication, check-ins, cleanings, and maintenance, allowing the landlord to focus on other things.
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How many Airbnbs can one person manage?The number of Airbnbs that one person can manage depends on the size of the property, the location, and the level of service required. An experienced Airbnb professional or management company such as Sahara Suites can handle multiple properties, but it is important to ensure that each property receives the necessary level of attention and care. This is why most landlords on their own can only just about manage one property and even then, they give up a lot of time to carry out this task.
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Can an Airbnb management company help me with check-in and check-out processes?Yes, many Airbnb management companies offer assistance with check-ins and check-outs. They can help you set up self-check-in options, handle key exchange, and provide guests with detailed instructions on accessing and vacating the property. They can also take care of all other aspects of Airbnb management, such as accepting bookings, responding to guest enquiries and arranging cleaning and maintenance services. To find out more, contact Sahara Suites today.
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What is guaranteed rent?Guaranteed rent is a service where a property management company or local council guarantees to pay the landlord a fixed rental income, typically on a monthly basis, regardless of whether the property is occupied or vacant. The management company takes over the responsibility of managing the property, finding tenants, and ensuring regular rental payments. This arrangement provides landlords with a stable income stream and reduces the risks associated with void periods and non-payment of rent.
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How does guaranteed rent work?Under a guaranteed rent scheme, the landlord signs a contract with the management company, agreeing to rent the property to them for a fixed period of time. The management company then becomes responsible the property. The landlord receives a rent guaranteed each month, typically for a period of 3-5 years or longer after renewals take place.
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How does guaranteed rent benefit landlords?Rent to rent landlords enjoy a reliable and consistent rental income, even when the property is vacant. The management company takes on the responsibility of filling the property, managing the property, and dealing with any maintenance issues that arise. This can save the landlord a lot of time, money, and hassle.
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Is guaranteed rent only available for commercial properties?No, rent guarantee schemes are available for both commercial and residential properties.
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Can guaranteed rent be applied to residential properties as well?Yes, rent guarantees can be applied to both residential and commercial properties.
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Is there a minimum or maximum length of time for guaranteed rent agreements?The length of time for guaranteed rent agreements can vary depending on the management company but typically Sahara Suites contracts range from 3-5 years. For new landlords am 18 month trial tenancy is sometimes offered.
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Are there any fees associated with guaranteed rent?There are no fees when benefiting from a guaranteed rent scheme with Sahara Suites. From a landlords perspective, it will feel like a normal tenancy however the contract will be between the landlord and Sahara Suites. This saves landlords a lot of money.
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Is there a limit to the amount of guaranteed rent I can receive?The amount of guaranteed rent can vary depending on the location, size, and condition of the property, as well as the terms of the contract.
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Can I receive guaranteed rent if my property is currently vacant?Yes, guaranteed rent is provided even if the property is currently vacant.
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Can I receive guaranteed rent if my property is currently occupied by a tenant?It depends on the terms of the existing tenancy agreement. Sahara Suites would take over the tenancy agreement or wait for it to expire before renting the property themselves. This is typical of rent to rent companies.
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Can I receive guaranteed rent if my property is in need of repairs or renovations?It depends on the extent of the repairs or renovations needed. Sahara Suites may require the landlord to carry out necessary repairs or renovations before entering into a guaranteed rent agreement. This is typical of rent to rent companies.
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Is guaranteed rent available in all areas or only certain locations?Sahara Suites offer guaranteed rent across the whole of the UK including all the major cities.
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Can I receive guaranteed rent if I have multiple properties?Yes, guaranteed rent can be applied to multiple properties. Sahara Suites will generate a specific quote for each property or block of flats.
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Can I sell my property while under a guaranteed rent agreement?Selling a property under a guaranteed rent agreement can be more complex. Landlords should review the contract terms regarding property sale and termination clauses. It might involve providing notice to the management company and settling any outstanding payments or penalties as per the agreement.
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How is the rent amount determined in a guaranteed rent scheme?The rent amount is usually determined through a market analysis and property evaluation conducted by the management company. It is often slightly below the market rate to compensate for the guaranteed income and hassle-free nature of the service.
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How can landlords find reputable guaranteed rent providers?Landlords should conduct thorough research to find reputable guaranteed rent providers. Reading reviews, seeking recommendations from other landlords, consulting real estate agents, and reaching out to local landlord associations can provide valuable insights. It’s important to choose a reliable and trustworthy provider with a proven track record of fulfilling guaranteed rent agreements and managing properties effectively.
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Can I customise the guaranteed rent agreement to meet specific needs?Some management companies offer customizable guaranteed rent agreements tailored to specific landlord requirements. Landlords can discuss their preferences and needs with the management company before finalising the agreement. Customization options might include services offered, rent amount, contract duration, and other terms, ensuring the agreement aligns with the landlord’s individual circumstances and goals.
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Are there any additional fees associated with guaranteed rent schemes?Landlords should inquire about any additional fees or charges related to guaranteed rent schemes. Some management companies deduct administrative fees, maintenance costs, or other expenses from the guaranteed rent amount. It’s essential to understand the fee structure and any potential deductions before entering into an agreement. Clear communication and transparency regarding fees are crucial for a successful partnership between landlords and guaranteed rent providers.
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What happens if the tenant damages the property in a guaranteed rent scheme?In most guaranteed rent schemes, the management company takes responsibility for handling damages caused by tenants. They typically use the security deposit held from the tenant to cover repair costs. If the damages exceed the deposit amount, the management company might cover the additional expenses or have insurance policies in place to address such situations. Landlords are usually shielded from the financial burden of tenant-induced damages.
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Is there a difference between guaranteed rent and rent-to-rent schemes?Yes, there is a difference between guaranteed rent and rent-to-rent schemes. Guaranteed rent involves a management company or council guaranteeing a fixed rental income to the landlord, regardless of occupancy. Rent-to-rent schemes involve a third party (renter) renting the property from the landlord and then subletting it to other tenants, often at a higher rent, with the aim of making a profit. Guaranteed rent offers a more stable and secure income, while rent-to-rent schemes carry higher risks and legal complexities.
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Can I participate in a guaranteed rent scheme if I have multiple properties?Yes, landlords with multiple properties can participate in guaranteed rent schemes for each of their properties, provided they meet the eligibility criteria set by the management company or council. Each property would have its individual guaranteed rent agreement, allowing landlords to enjoy stable income streams across their property portfolio. Managing multiple properties under guaranteed rent schemes can provide convenience and financial security for landlords.
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What kind of documentation is involved in a guaranteed rent agreement?A guaranteed rent agreement typically involves a formal written contract outlining the terms and conditions agreed upon by both parties. This document includes details such as the rent amount, payment schedule, responsibilities of the management company, termination clauses, and any other specific arrangements. It’s essential for landlords to thoroughly review and understand the documentation before signing to avoid misunderstandings later on.
What Properties Work
FOR GUARANTEED RENT?
Our Guaranteed Rent service across the UK alleviates stress for local landlords, guaranteeing you receive your monthly rental income in full and on time, regardless of any late payments from tenants or void periods.
What sets us apart from other property agencies is that Sahara Suites will pay you rent on your Portsmouth properties at fair market value or above, and then rent out the property as a Short-Term Let/Airbnb.
Your property will be meticulously maintained throughout the tenancy, and any maintenance issues will be promptly resolved by Sahara Suites within 24 hours, ensuring zero hassle and zero expenditure for you as the landlord.