Guaranteed rent is as safe as the company behind it and the lease you sign. The guarantee is a contract, so the checks that matter are who the company is, whether it can pay, and exactly what the lease says about rent, repairs, insurance and handback.
What should I ask any guaranteed rent provider?
- Who exactly is the tenant? Get the full company name and number and look it up on Companies House. Check how long it has traded and whether its accounts are up to date.
- Is there a guarantor? Ask whether a parent company or director will guarantee the lease.
- Is the rent paid in advance? Confirm the payment date and what happens if a payment is late.
- Who repairs what? The lease should list which repairs are yours and which are the provider's.
- What is the handback condition? Look for an inventory and schedule of condition at the start, and a clear standard for the end.
- Is there a deposit? Ask whether the provider pays a deposit or offers another form of security.
- Is there a break clause? Know when either side can end the lease early and on what notice.
- Who holds the licences? For HMOs and selective licensing areas, confirm who will hold the licence and manage compliance.
- Does my mortgage and insurance allow it? Tell your lender and insurer. Some require consent for company lets.
- Is the company in a redress scheme? Businesses doing lettings or property management work in England must belong to a government-approved redress scheme. Ask for the membership number and check it.
What are the warning signs?
- A rent offer well above what the property would let for on the open market.
- Pressure to sign quickly or pay an upfront fee.
- No written lease, or a lease you are not given time to have checked.
- No company details, or a company with overdue filings.
Who are we?
Guaranteed Rent Midlands is part of the S&K Group, based in Great Barr, Birmingham. You can see our company details at the foot of every page, and we are happy for you to have our lease checked by your own solicitor before you sign.