The costs of being a landlord – V – The benefits of using Anthea Lettings Guaranteed Rent Scheme
At Anthea Lettings we would like to advise you of some of the costs faced by landlords. There are different costs that you may experience, which depend on different circumstances. Here are some examples:
Landlords are obligated to repair many things in the home and some of the contents that can be expensive are the boiler, fridge, washing-machine and cooker. Tenants will be required to pay for the damage from the tenancy deposit, if the damage was caused by them. To give you a rough idea, normally for the minor repairs you should allow at least 12-15% of 12 months’ rental. At Anthea Lettings we offer a Guaranteed Rent Scheme and we do not charge the landlord for the minor repairs.
Once a tenant has vacated your property you will need to get the property back into the best possible condition for your next tenant, you may be able to use your tenants deposit to cover some of the costs. But this will be open to dispute from many tenants, again using Anthea lettings Guaranteed Rent Scheme, none of these costs will be forwarded to the landlord.
Every couple of years or after going through a few tenants, you will definitely need to freshen up your property to ensure the best condition, and keep the rental value at a reasonable price. We have our own in house maintenance staff that we use and no charges are given to you for materials or labour.
In an older house you may need to pay for renovation to receive the rental value you require, we offer a renovation service that would enable you to enjoy the benefits of a total overhaul to the property and we could deduct the costs at a percentage from the rental price once the works had been completed and rented through us. This would also include but not be limited to new boiler systems, new windows and even extensions or conversions.
Furnished properties do receive a higher rent and maybe even a larger deposit, but they will cost more to maintain. Using our Guaranteed Rent Service we will maintain and even replace the furniture if needed again at no cost to the landlord.
Loss of rent from empty property
Unfortunately, you can’t always guarantee to have the property rented for the whole year. More often than nor you will face periods where your property remains empty and rent isn’t coming in, with our Guaranteed Rent Scheme you will not have to worry about this as we cover all void periods.
If you would like to discuss any other costs that you are currently incurring and would like to benefit from a Guaranteed Rental Income please give us a call 020 7700 0021.