One of the biggest worries for landlords is not having a regular source of income: tenants pay their rent late or not at all, rental prices dip, or your property fails to generate rental income as it is currently empty.
Our Guaranteed Rent scheme overcomes all these problems, giving landlords financial security and peace of mind.
We operate guaranteed rent scheme across London and the South East, where there is a high demand for properties.
How does guaranteed rent work?
We effectively become your tenant after agreeing a rent with you, this in return is guaranteeing you a fixed rental income even if the property is empty or the tenant decides to stop paying. As we are the tenant that will guarantee you your monthly rent, we then sub-let the property, by vetting the right tenants we can trust will take care of the AST (Assured Short-hold Tenancy) agreement. If they stop paying, decide to leave without notice, damage the property or force us to take an eviction order to remove them, we will take the financial burden – not you.
How long is the guaranteed rental agreement for?
A minimum of 12 months is all we ask for in the beginning and the option to have a maximum 5 year contract with the flexibility of renewing contracts on a rolling basis.
A rental agreement you can trust
We sign an agreement with you to manage your property for a specific period of time. In return, we will guarantee you a set monthly rental income and even though your overall monthly rent is slightly lower than the actual market value, but given the risks involved as a landlord, from non-payment of rent to other costs associated with difficult tenants including eviction, you will end up saving yourself thousands of pounds should any negative situation arise due to the tenant.
Operating since 2010, AMS Housing has robust financial resources and systems in place to be able to offer such guarantees, and a long track record in delivering on these. We are very selective about the properties and the tenants that we take on, whether they are private or from local authorities. In this way, we are able to protect both our and our clients’ interests.
As an added assurance, our membership to the Ombudsman Services – Property, is our company policy in ethically adhering to the standards of this independent body, while also offering clear and effective redress for any issues that may arise between ourselves and our clients.
What other advantages can this scheme offer me?
- We can Lease the property for 1-5 years.
- Achieve market value rent on the property.
- Pay you the rent on the same day every month, guaranteed.
- Pay you even if the property is empty so non void period.
- We take care of any evictions.
- All damage and repair bills covered by us.
- No commission or set-up fee charged or any hidden costs.
- We choose and select suitable tenants we can trust.
- Never worry about arrears.
- Choose the dates you would like to be paid.
- Fixed monthly payments for up to 5 years.
- A fully-managed property service as part of the contract.
- No extra charges or fees, even for evictions.
- Peace of mind because you will be paid no matter what.
So, signing up to our Guaranteed Rent scheme means:
- A 0% commission full management service.
- Inspection on the property every 4-6 weeks.
- A FREE inventory: electrical safety test, gas safety check, Energy Performance Certificate.
- Claiming and rectifying for damages done.
- Property prepared for a new tenant by painting, cleaning and making good.
- Minor repairs carried out for FREE.
- A house customer service team to help deal and assist with the day-to-day issues.
- A piece of mind that is worry and hassle free.
Servicing our council guaranteed rent scheme in Chelsea & Kensington, Enfield, Waltham Forest, Redbridge & Newham boroughs
Proud to be working in partnership
To be honest, at first I was a bit sceptical about not receiving the extra £50 a month in rent that I could receive if I dealt with things directly. What swung it was an episode of ‘Can’t Pay? We’ll Take It Away!’. The TV programme covered a story about a family being evicted for failing to pay their rent. After they had vacated his property, the landlord explained what had happened.
Initially everything with the tenants was OK. However, due to a few issues, they refused to pay their rent and were not taking care of the property. The head of the family was very aggressive and while the landlord had good reason to evict the tenant, as it was a family with children, the process took a very long time.
The landlord spent over 18 months going through all the proper procedures for eviction. It cost him over £20k in lost rent, which he is highly unlikely to get back. There were three court hearings, which cost over £1,000, and two bailiffs, which also incurred over £1,000. And he faced a considerable bill to bring the property back to a decent standard.
The TV programme got me worried and I decided to talk to a few experts. When I met with AMS Housing, they explained they had dealt with a similar situation to the one shown in ‘Can’t Pay? We’ll Take It Away!’. Their client was a landlord living abroad and initially he was not even aware of the problem because AMS took care of everything and had guaranteed rent, so there was no gap in payments.
Jed at AMS was very transparent about the costs. He said the landlord receives about £100 less each month, £1,200 per year, than if he managed it all himself. But this loss pales into insignificance considering the £25,000 costs he could have incurred. It was all the convincing I needed, and have not looked back since.
Trudy Obode, Finsbury Park, London