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How does guaranteed rent work?Under our guaranteed rent scheme, the landlord signs a contract with us, agreeing to rent the property for a fixed period. We then become responsible for 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. We take on the responsibility of filling the property, managing the property, and dealing with any maintenance issues that arise. This can save you a lot of time, money, and hassle.
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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 but typically Bluewater Property Partners contracts range between 3-5 years.
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Are there any fees associated with guaranteed rent?There are no fees when benefiting from a guaranteed rent scheme with Bluewater Property Partners. From a landlord’s perspective, it will feel like a normal tenancy however the contract will be between the landlord and Bluewater Property Partners. 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 in need of repairs or renovations?It depends on the extent of the repairs or renovations needed. Bluewater Property Partners 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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Can I receive guaranteed rent if I have multiple properties?Yes, guaranteed rent can be applied to multiple properties. Bluewater Property Partners 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 Bluewater Property Partners and settling any outstanding payments or penalties as per the agreement.
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Are there specific types of properties suitable for guaranteed rent schemes?Our guaranteed rent scheme can apply to various property types, such as residential homes, apartments, student accommodation and commercial properties'.
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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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What happens if the guest damages the property?We take responsibility for handling damages caused by guests, using the security deposit to cover the costs. If the damages exceed the deposit amount, we have additional expenses and insurance policies in place to addres such situations. Landlords are usually shielded from the financial burden of guest-induced damages.
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What kind of documentation is involved in a guaranteed rent agreement?The 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 Bluewater Property Partners, 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.
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