Risk-free property letting? We know how to do it!
Have you bought an investment property and the only thing left to do is find a tenant? It may sound like a relatively simple task requiring minimal attention and time. However, the opposite is true: landlords today face a range of risks, the most common being problematic tenants.
There are increasingly more of them due to tougher mortgage lending conditions and steeply rising property prices, so it is important to be cautious from the outset when selecting a tenant. On the one hand, greater demand for rentals is positive, as it allows you to set a satisfactory level of rent and terms that suit the property owner. On the other hand, selecting a tenant can easily take several weeks. If you want to be sure that you are moving reliable tenants who pay on time into your flat or house, you need to proceed with the utmost care.
However, if you break into a sweat at the mere thought of communicating with every applicant, there is another, far more reliable option.
This is professional property management with guaranteed rent. On the Czech market, it is offered, for example, by the independent real estate company Bohemian Estates International, which has been operating since 2006 and currently manages more than 2,000 flats in the Czech Republic and abroad, with a total value of CZK 15 billion.
What does the guaranteed rental service involve?
With the guaranteed rental service, Bohemian Estates relieves you of all the above-mentioned worries for a pre-agreed fee and, above all, guarantees regular income even if tenants fail to pay or the property is temporarily vacant. The company also guarantees that the property will be returned in its original condition and, throughout the term of the agreement, arranges any necessary repairs and maintenance, sends reminders and collects rent, handles utility transfers and property insurance, and advertises the property whenever needed. The service is therefore particularly suitable for those who want to receive regular rental income without any worries or responsibilities. It will be appreciated, for example, by those who bought a flat with a mortgage and do not want to run into difficulties if the flat is vacant or the tenants fail to pay.
As a property owner using the guaranteed rental service, you therefore need to deal with almost nothing other than initially approving the terms and signing the lease agreement. The price of the service is determined following a personal inspection, during which the market rent is established. The company then deducts approximately 15% from this amount without any additional fees, which corresponds to the rent guaranteed to you. You no longer need to worry about what happens if the flat is not let as soon as possible.