The Property Bank works closely with Local Authorities, Private Investors and other Government Institutions to meet various housing needs. Unlike many other companies offering similar services, we are bound to tightly regulated commercial contracts which allow us to guarantee your rent. After over 20 years and hundreds of satisfied landlords, we have never defaulted on a single rental payment.
Our cast-iron guarantees are defined in the company lease agreement that we draw up with you. Our agreement and commitment is to you. We do not rely on the tenant in your property to ensure you are paid. Unlike other companies your rent does not rely upon our judgement of the Tenant’s ability to pay. We do not enter into an AST (Assured Shorthold Tenancy) or License agreements. This ensures that at all times we are in control of your rental payment and a risk of a default payment does not exist.
The Property Bank has been successfully trading for over 20 years, the Guaranteed Rent Leases that we issue have allowed our Landlords to satisfy their Lenders requirements and increase their portfolio size. We have facilitated numerous new property acquisitions on the back of our watertight rent guarantee.
The Property Bank has been trading for over 20 years, successfully managing hundreds of properties across Berkshire and the Home Counties. Due to our solid financial credibility and track record, this event is not likely to ever occur. However, our unique commercial framework agreements mean that you will still continue to be paid directly by our Stakeholders.
Your guaranteed rent is totally independent of the Tenant’s circumstances, finances or ability to pay. The Property Bank does not collect rent from the Tenant therefore in this instance it makes no difference to us or your rental income
Like any insurance product, there are certain pitfalls. You will have to pay a monthly fee for this protection, often up to 20% of the monthly rent. Upon default by the Tenant, you will have to pay an excess which is often equivalent to 1 months’ rent. In most cases this benefit will cease after 6 months. With our guaranteed rent lease, you will be paid regardless and you will not incur set-up fees, commissions or excess payments
At the end of the agreed term we will hand back the property in its original condition save fair wear and tear. Any Tenant damage is rectified by us, at our cost. You do not have to deal with a Deposit Protection Service which will take time and in most cases not rule in your favour. Unlike many other ‘guaranteed rent’ schemes, we have no limit on the cost of repairing Tenant damage, intentional or otherwise.
We will initiate the legal eviction process and you as the Landlord will not have to bear any eviction costs. We will continue to pay your rent until the property is vacated.
Our rent guarantee ensures full payment 52 weeks a year regardless of whether your property is vacant or not.
The Tenant will have direct access to our Maintenance Division which operates 24h a day, any minor repairs will be carried out by us day or night at no cost to you.
Whilst your property remains occupied, you will not have to pay any council tax or utility bills.