It’s no surprise that COVID-19 has wreaked havoc on the property lettings industry.
As a landlord, you rely on the assurance of receiving rent monthly and on time. But at a time where many tenants have left London, people are no longer moving homes in the city, and the tourism short-term let industry has ground to a halt, many landlords are being forced to seek new solutions to fill their properties and guarantee their rent payments.
But letting a property independently often means rent is not guaranteed, leaving many landlords during the current COVID-19 pandemic without rental income. What’s more, social distancing measures are leaving a risk of empty properties destined to stay vacant. So, what can landlords do to get their rental payments back on track, while helping to ease the city’s housing crisis?
Guaranteed Rent during COVID-19
Guaranteed Rent schemes are an ideal solution for landlords looking to maintain their income during this pandemic. In these schemes, landlords are promised their monthly rental income by guaranteed rent providers – whether their property is occupied or not. The providers will be entrusted with all property management and tenancy arrangements during their partnership, offering landlords peace of mind and providing a sense of normality during a period that is far from normal.
The Guaranteed Rent product is traditionally opted for by landlords who are looking to fill their properties to let on a long-term basis with zero hassle. However, the schemes have adapted to become an ideal solution for landlords who traditionally let their homes on a short-term basis, such as landlords typically relying on holiday-let platforms such as Airbnb. Guaranteed rent schemes have therefore become a crucial lifeline for many landlords who rely on short-term lettings to supplement their income and are currently unable to do so due to COVID-19 travel limitations.
Apex Housing Solutions
At Apex Housing Solutions we’ve been letting properties via a guaranteed rent process since 2008 and have been exceeding customer expectations ever since. Leading guaranteed rent schemes in London, we’re the only provider to be ISO 9001 accredited, demonstrating our commitment to quality management systems.
As part of our guaranteed rent solution, we have no hidden fees and promise your first rental payment within 24 hours of instruction, even during COVID-19. We’ll also manage all aspects of property maintenance during our tenancy and will exclusively provide families as tenants. We have also extended our flexible leasing to suit our landlords’ unique set of needs during COVID-19.
All we ask is that your property meets certain requirements, and should your property require any improvements to bring them up to this standard, we will deploy our in-house maintenance team. Our team will also be on-hand, while maintaining social distancing measures, throughout the duration of the tenancy to ensure your property remains in the same condition as it was on the day you entrusted it to us. We also offer a 24-hour emergency line and ensure that we only send an in-person team out for emergencies and have equipped our maintenance teams with face-masks and gloves.
We have updated our policies to ensure social requirements are followed while maintaining our fee-free guarantee rent product even during COVID-19. So, if you are finding yourself losing income with an empty property/number of properties in your portfolio, enquire today and we will be able to help.
