Do you have an available unit in your real estate portfolio that’s been empty too long? If so, it may be time to consider using a guaranteed rent service to fill that vacancy as quickly as possible and turn it into cash flow. But what are the benefits of using such services? Here are reasons why guaranteed rent services suit your real estate business.
- Steadier Income Stream
One significant frustrating aspect of being a landlord is when your tenant doesn’t pay rent. While you may be able to evict them, it can take months, and you’re stuck with a vacant property that’s not generating any income. With guaranteed rent services, you have an option that provides peace of mind by guaranteeing the rent on your investment property, so you never have to worry about getting behind on payments again.
With a reliable company experienced in guaranteed rent services like AMS Housing Group providing this service, you will benefit from their experience as they offer consistent rental income without the hassle or risks associated with traditional renting. They also offer a variety of lease agreements to help accommodate your needs, from month-to-month contracts to year-long leases or even buying out a building if you choose.
- Helps Attract and Retain Tenants
You’ll have a competitive edge in marketing your property by hiring guaranteed rent services. These professionals will help you identify and attract tenants who can meet the terms of the lease agreement. It’s also easier to retain tenants since guaranteed rent agents take their business of maintaining their tenants a notch higher as they go out of their way to make sure that they find solutions when problems arise.
They offer various guarantees, from payment protection programs to moving costs reimbursement if tenants decide not to stay with you. They also offer tenant screening and credit repair packages, so no matter the situation, there’s a service that fits.
- It Helps Reduce Void Periods
Void periods happen when a tenant moves out of the property, and there is no one to replace them. Such can be highly detrimental to your real estate business as you lose potential income. With guaranteed rent services, you will never have to worry about void periods again!
The guarantor pays for that month when somebody in your lease agreement moves out or stops paying rent. It’s like having an insurance policy against bad tenants- it doesn’t cost much but can save you a lot of money with time without hassle. You don’t need to look for new renters or deal with months where nobody is living in your rental property!
- It Frees Your Time for Other Endeavors
You can free up precious time to focus on other aspects of your business by providing guaranteed rent services. They will be responsible for finding and vetting a tenant that pays the agreed-upon amount every month without fail. You don’t have to worry about the legalities or marketing because they take care of that too.
It’s like having extra hands in your real estate business! They will always find renters that match your criteria. If you want someone who is military friendly or has no criminal history, we’ll do our best to find them. Professional rent-guaranteed agents will do their best to find the right tenants and save you the hassle of vetting each person yourself.
- It Provides Peace of Mind
The first reason guaranteed rent services are suitable for your real estate business is that it provides peace of mind. A landlord’s biggest fear is when their tenant can’t afford to pay the rent because of an unexpected event. With a guarantor, they know they will get the money they need to cover their mortgage and other expenses.
Also, guaranteed rent services are suitable for your real estate business because they increase your chance of getting approval from a lender or investor. Lenders want to see evidence that you have a way of covering monthly payments in case something happens, and having someone who agrees to take responsibility for the loan makes it much easier for them.
Conclusion
A guaranteed rent service is an excellent way to help generate a steady income stream, as most renters sign a one-year lease. A reliable agent guarantees timely and complete payments, which is comforting when seeking financing from a bank or other lender or paying for your mortgage. Guaranteeing the rent also protects you from any financial fallout if the tenant fails to pay their rent. As such, you can be sure of a steady cash flow.
