The short answer quite often is, probably not!
We often deal with landlords who have been offered an attractive Guaranteed Rent offer for X number of years, but part of the way through the contract they start to encounter problems.
There are a number of key things to consider if you get one of these offers:
- Is the company making the offer legitimate and does it have trading history? If not and cash flow becomes a problem, there's a higher likelihood of non-payment of rent to you/ liquidation, with tenants still paying the leaseholder.
- Do they have experience in the area? Are they familiar with the local market and have the expertise and contacts to manage property in the area?
- Do they have experience managing HMOs, management regulations and licencing?
- Are they offering you cash upfront? If the above doesn't add up, just remember you could suffer future rent arrears which would far outweigh this attractive cash injection.
A responsible, experienced agency with credibility will manage risk and consider overall market conditions. This may mean you receive a full management offer instead of GR, and this could be better for you financially!
At CS Lets, we can offer you both, and give you the reasons why one may suit you better in a comprehensive appraisal.
We manage properties across Hertfordshire, all areas of London and Essex and have huge experience in HMO compliance. So you can be sure you're in good hands.
Contact us today to discuss further - www.cslets.co.uk , email info@cslets.co.uk or phone 0333 577 8123.
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