Serenity Home stays

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 Serenity Home Stays 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.

WHAT ARE THE BENEFITS OF GUARANTEED RENT TO LANDLORDS?

GUARANTEED INCOME

LONG TERM CONTRACTS

As a landlord, you receive guaranteed rent consistently and punctually every month, even if the property is vacant. You can count on getting paid on time, every time!

LONG TERM CONTRACTS

Guaranteed rent contracts typically span from 3 to 5 years and can extend beyond. Serenity Home Stays fosters long-term relationships with all our landlords.

NO TENANT ISSUES

LONG TERM CONTRACTS

NO TENANT ISSUES

All tenant issues are handled by Serenity Home Stays. This means no stress of late-night phone calls for you as the landlord!

LOCAL TO YOU

HIGH PROPERTY UPKEEP

NO TENANT ISSUES

Serenity Home Stays builds local teams in each location where guaranteed rent is offered and currently provides guaranteed rent services in more than 5 cities across the UK.

HIGH PROPERTY UPKEEP

Your property will be professionally cleaned by our dedicated team at least once a week, ensuring it is maintained to the highest standards.

NO MAINTENANCE COSTS

HIGH PROPERTY UPKEEP

Under guaranteed rent, Serenity Home Stays is responsible for handling and covering all wear and tear maintenance issues. This means you don't have to worry about anything.

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.

2) AGREEMENT / VIEWING

1) APPLICATION / PROPERTY APPROVAL

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.

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.

4) ANNUAL REVIEW

3) THE TENANCY STARTS

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.

Frequently Asked Questions

Please reach us at thi@serenityhomestays.co.uk if you cannot find an answer to your question.

Are there any fees associated with guaranteed rent?

There are no fees when benefiting from a guaranteed rent scheme with Serenity Home Stays. 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.

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.

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.

Can I customise the guaranteed rent agreement to meet specific needs?

Some management companies offer customisable guaranteed rent agreements tailored to specific landlord requirements. Landlords can discuss their preferences and needs with the management company before finalising the agreement. Customisation options might include services offered, rent amount, contract duration, and other terms, ensuring the agreement aligns with the landlord’s individual circumstances and goals.