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Get Guaranteed Rent in Manchester

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You may know about London properties and how they are one of the most value-for-money property hotspots globally.

But flying underneath the radar is a “closely related cousin” of London: Manchester.

As one of the fastest-growing regions in the UK, Manchester properties can offer you an excellent rental yield and provide lucrative rent-to-rent investment options.

If you aim to create an additional source of income through guaranteed rent in Manchester, now is the right time to invest.

So let’s understand the details about Manchester rental property investment and how rent-to-rent or guaranteed rent works in Manchester.

Guaranteed Rent in Manchester

Manchester is becoming a hotspot for people because of its powerful cultural, economic, and sporting assets. The demand for rental properties in Manchester is rising, and you can use the opportunity to generate a steady flow by finalising a guaranteed rent deal.

Guaranteed rent scheme Manchester, also known as rent to rent, is a popular business model in the rental industry. 

But what is guaranteed rent?

Rent to rent is where a local authority (corporation), company, or an individual known as ‘rent to renter’ rents the owner’s property and provides them with a guaranteed rental income by agreeing to a rental contract.

The ‘rent to renter’ sublets the property to a tenant at a higher price than the guaranteed rental income, allowing them to make decent profits in return for the work and the risk.

Usually, people are unaware that guaranteed rent isn’t an official agreement between the landlord and tenant but between the landlord and a third party or an agent.

As a landlord, if you don’t want the responsibility of managing either your property or tenants, you can associate with a third party or agent.

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You and an agent enter an agreement that makes the agent your tenant. The agent must pay you the rent regularly once the lease is agreed upon. 

Different policies, products, and schemes offer you guaranteed rent. These include:

  • Insurance
  • Agency-backed or guaranteed rent company
  • Council-backed

In the agreement, the party offering you the guaranteed rent agrees to pay an amount to the landlord over a specific term. 

Since the ownership is not transferred, you can stay trouble-free in your property after the tenant leaves.

Guaranteed Rental Income

Generating a guaranteed rental income through your property investment can be great. It can avoid the hassle of managing your property and tenants and outsource most of the work to agents or third parties.

You can find the best-guaranteed rent scheme once you associate with a professional agency that can help you generate a steady income without worrying about complications.

The main idea behind these guaranteed work schemes is that you can reduce risk and responsibility and rent your property to an agent at a fixed market value for an agreed-upon amount of time. Most guaranteed rental income schemes are designed for 3 to 10 years.  

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But is guaranteed rent worth it? Here are the pros and cons.

Pros

  • Guaranteed monthly income 
  • Hassle-free 
  • Peace of mind and minimal stress
  • An excellent outsourcing management option

Cons

  • Long contract periods
  • Higher agent fees
  • Limited control over the details, like maintenance, tenants, and design
  • The property location must be attractive

How Does Guaranteed Rent Scheme Work in Manchester? 

We have highlighted the basics of guaranteed rent, but there are a few aspects you must understand.

As you know, in a rent-to-rent arrangement, the middle tenant or the agent signs an official contract guaranteeing to pay a set income to the landlords and take full control of the property and its management. 

The agent will then:

  • Market the property to find renters. 
  • Handle property maintenance and do all the tenancy administration. 
  • Ensure the property complies with relevant legal requirements. 
  • Take care of legal proceedings if the renters living in the property must be evicted.

The success of a guaranteed rent deal rests on the ability of the agents to achieve a high rental income from the property to cover expenses and generate profits. 

You must associate with professional experts in the rental service industry to ensure that you don’t face complications dealing with a guaranteed rent property agreement and that your rental property investment payoffs are great.

Manchester provides great investment opportunities and creates a solid rental income source, and our guaranteed rental services can help you maximize the opportunities.

Pluxa Property services can help you make great property investment decisions and achieve the most from the guaranteed rent business model.

We can turn properties into luxurious homes for excellent stays. ‌Not only can we give you guaranteed rent, but we also uplift the value of your property. 

Our professional team takes care of tenants and manages the property. Being a leading property deal sourcing and deal packaging company, we stand out from the rest and ensure that you invest in properties offering a high yield.

We offer the best property deals to assist you in gaining great long-term returns and scaling your business to new heights.

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FAQs

What are the cheapest rents in Manchester?

The average rent for living in Manchester is close to £2548.26. But there are specific areas in Manchester where you can find a flat for less than £500 a month. Bolton, Wigan, Oldham, and Tameside are a few locations in Manchester that are the least expensive compared to the other areas in the city.

What is a guaranteed lease purchase agreement?

A lease guarantee is an agreement between a landlord, tenant, and third party who takes responsibility for payment defaults by the lessee or tenants. Rent guarantees exist where the brokerage firm assures a specific rental amount to the landlord, irrespective of the tenant’s availability.

Is Manchester a good area for property investing?

Yes, Manchester is a great area for property investment because it offers excellent rental yield and high ROI over the years. The city is home to different sporting events, corporates, and other cultural tourist destinations, which increases the demand for properties in the city.

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