If you want to secure genuinely passive income without any work, letting a flat is an ideal solution. Rent arrives regularly every month, and there is almost nothing you need to do for it. Occasionally, a few minor matters need dealing with, but they do not take much time. Is it really that easy?
Published 26/3/24, 2:56 a.m.
What does letting a flat actually involve?
The key to success is finding a reliable tenant who will pay on time, ideally after checking them against debtors' registers. It is equally important to set the right level of rent so that it is as high as possible while still realistically reflecting supply and demand. Professionally taken photographs of the property and a well-written listing will ensure that the offer appeals to more prospective tenants. A properly drafted lease agreement is also essential to protect the owner's interests. During the tenancy, communication with tenants and resolving a range of requests is to be expected.
Something in the flat is likely to break and need repairing. In addition to broken appliances, common issues include leaks in the bathroom or kitchen, mould in flats and so on. It is therefore highly advisable to be aware of the property's condition and to inform tenants adequately about how to use the property properly and look after it as part of routine maintenance. We also recommend ensuring that tenants have liability insurance in place.
Another important aspect is administration, including: checking whether rent has arrived on time and reminding tenants about payment if necessary; preparing annual statements of utilities; transferring energy accounts; monitoring lease agreement expiry dates, contacting tenants and arranging lease extensions, or finding new tenants in good time to prevent any loss of rent; arranging repairs and inspections, communicating with the owners' association (SVJ), etc.
Guaranteed rent is hassle-free letting. If you want to avoid the concerns associated with letting, you can use our guaranteed rent service.
We rent the flat from you and become your tenants, and you receive rent regularly every month, even if the flat is vacant. We then sublet the flat and take care of all related matters.
We take care of absolutely everything:
You can finally enjoy a truly passive income.