Thinking about buying to let? Our Rental Guarantee Scheme provides a fixed income paid each month for the first 12 months regardless of the property being empty or late tenant payments.
How Does it Work?
The Rental Guarantee scheme* takes the form of a tenancy between you (as the Landlord) and (Chosen Letting Agent). You will sign a tenancy agreement with (Chosen Letting Agent) and London Square will hand your property over to (Chosen Letting Agent) on completion of your purchase.
An interior design company will deliver and install a quality, comprehensive furniture pack. This makes the property attractive to potential tenants and stays with the property once the rental guarantee agreement ends.
(Chosen Letting Agent) will arrange to have a detailed Inventory of the property and its contents taken and a Check In inspection carried out. The condition report produced from this inspection will then be used at the end of the tenancy to assess any damage.
- PROPERTY MANAGEMENT
Throughout the term of the agreement, (Chosen Letting Agent) property management team will liaise directly with London Square Customer Care to ensure that any maintenance issues that may arise are dealt with promptly, to ensure peace of mind.
- RENTAL PAYMENTS
Under the terms of the tenancy, the annual rent will be 5% yield based on the purchase price, and this will be paid monthly in arrears. Rental payments will be paid direct to your bank account from the letting agent and a monthly statement will be sent to you.
- CHARGES AND COSTS
Under the Rental Guarantee Scheme*, (Chosen Letting Agent) will make no charge to you for the letting and management of your property or the preparation of inventories, check in reports or tenancy agreements, there are also no costs for deposit registration or administration. Service Charge and Ground Rent along with all other associated costs are paid by the landlord, just as it would be once the Rental Guarantee period ends.
RENTAL GUARANTEE BUYERS
Lizzie Hackett-Brown, London Square Purchaser
By using London Square’s Rental Guarantee Scheme it has meant that I have had a fixed income paid to me each month, even if the property has been empty or the sub-tenant late paying. It has taken away the stress involved in letting out a property and maintaining it. This scheme is perfect for anyone who does not have the time to manage their own rental property or who wants a no-risk approach to rentals.
Ask our specialist sales team for further details on 01895 627 333
The Rental Guarantee Scheme* is provided by “chosen Letting Agent” and takes the form of a 12 month fixed tenancy with “chosen Letting Agent” (a copy of which is available on request) which will commence 14 days after the later of, completion of the purchase or installation of the full furnishing pack, purchasers will be liable for utility and council tax charges between completion and the commencement of the rent guarantee. To qualify for the Rental Guarantee Scheme, any property purchase with the Rental Guarantee must be agreed by London Square at the point of reservation and is subject to London Square’s terms and conditions.