By Jacqui Courtier, Plymouth Homes Lettings Director, Propertymark ARLA Agent
The problem: tenants missing rent payments. The solution: Rent Paid...Guaranteed from Plymouth Homes Lettings. Rent Paid…Guaranteed is a unique service we offer to our landlords and I am very passionate about it. Why? Because I believe in doing my job well and setting an example for the property lettings industry.
How Rent Paid...Guaranteed Started
I have been in the property business for a long time (over 20 years is all I am admitting to). During this time I have witnessed and experienced situations of unpaid rent and challenging tenancies. Every single case has shown me, that there is a right way and a wrong way of dealing with people. I recognised that there was a gap in the market for a professional property managing agent who was actually prepared to do a “proper job”.
What is the Formula?
Being a successful landlord or a professional managing agent, in my opinion has nothing to do with property. But it does have everything to do with people. Long gone are the days of being aloof in a business that we saw boom since the late 1990’s. We believe in treating people with respect, whilst at the same time managing people’s expectations. Providing good advice and signposting people who need that little bit of extra help. People (unless you are very unlucky) don’t just stop paying rent arbitrarily. Normally there is a reason. Anything from being made redundant, to finding that someone has been diagnosed with an illness. For the tenant, this is already very stressful. Having a letter drop through the door, threatening legal action, late payment fines, or other action makes the situation harder to resolve. This is not the way we do things at Plymouth Homes Lettings. When things go wrong, it is my belief and philosophy that a discussion should take place, where the agent provides support to both the landlord and tenant.
So, our formula is really very simple:
Communication + compassion + understanding + patience = happy landlords and tenants.
Why Do We Offer Rent Paid...Guaranteed?
I am asked this question on many occasions, and actually there are very good reasons. Firstly, it keeps my stress levels low and that of our landlords. More importantly, offering the Rent Paid...Guaranteed service frees us from potentially stressful discussions with landlords who are (naturally) upset if the rent has not been met. Our system allows my team and I to deal with the real problem and provide a relaxed environment for the tenant to resolve their issues. To date, I have enjoyed a 100% success rate, where no landlords have had to suffer a loss for non-paying tenants. As I said above, a proper job.
Does Anyone Else Provide this Service?
We were the first letting agency in the South West to provide Rent Paid...Guaranteed. Many agents have systems that sound similar, but this usually involves selling you insurance policies that cost extra. In our experience, these kinds of insurance policies do not always pay out. The difference we offer to our landlords is that we guarantee the rent.
Landlord, Mark Mitchell told me: “We are so pleased we found Plymouth Homes Lettings. The rent is always paid on time, the maintenance visits are great. The team, no matter who you speak to, are always on the ball.”
We are a new breed of managing agents that believe in leading change through example. We know that our actions are already driving standards up in the Plymouth area, and are keen to develop our successful reputation.
How Does it Work for Me as a Landlord?
It is very simple. Once we have found a suitable and mutually agreeable customer tenant, under our full management rent paid guaranteed scheme, who has passed all the legally required checks, referencing and credit history and who has taken legal occupation of their new home, we can move to the second stage. We guarantee to pay the rent to you on the day it is due (bank holidays and weekends excluded, paid the next working day) whether the tenant has paid their rent or not. Sound unbelievable? Talk to us and we'll make you a believer.
“Using Plymouth Homes Is the best decision we ever made. Our tenant did fall into arrears and Jacqui handled it so well. We always received the rent when it was due, and Jacqui kept me updated when I needed to know.” explains one of our landlords, Brian XXXX. “We have the same tenants who have now got their problems sorted and I know they are really grateful to Plymouth Homes and so are we!”
What Happens if the Tenant Stops Paying the Rent?
The rent continues to be paid to you, until such time as we have the legal right of access to the property. Once we have the legal right to the property, then the property is vacant and no rent is due. So, rent stops being paid from that date until we have re-let it, and then our management service kicks in again. For our landlords it is a seamless process.
What about Legal Fees? Do I as a Landlord Have to Pay?
No. We pay for the legal costs involved in evicting a non-rent paying tenant.
How Are You Able to Do This?
I always smile when I am asked this question. The answer is simple: It's our money we lose not yours. Understandably, all our existing landlords love this response, but there is solid reasoning behind what we do. Landlords are reassured that we are very careful to choose the right tenants for their home. Our experience and expertise enable’s us to find suitable tenants. Great tenant-landlord relationship always produces the best results. As agents, we do our best to encourage these relationships.
Where to Now?
Being a landlord is hard enough. There always seem to be a million and one things that need to be done and keeping on top of it all is a full-time job. That's why our landlords love our Rent Paid....Guaranteed service. No more worries about rent payments... because we guarantee them for you. If you are a landlord and you would like to become one of our clients, we provide a rental consultation service, which is free. It includes a best price guide, recommendations and compliance advisory notes free of charge. To book a rental valuation click here: Rental Property Valuation
Or you can call us on 01752 772846 (option 2).
This information is provided by Plymouth Homes Lettings
to give you useful information and guidance. It is not meant to cover everything and if you are unsure of anything, we encourage you to discuss it with us directly.
Plymouth Homes Lettings provide various services for tenants and landlords. For more information feel free to pop into the office or give us a call on 01752 772846 (option 2) where you will receive a friendly and professional discussion.