Get 6 months rent upfront, every 6 months
Being a landlord can be challenging. You want to find tenants who will pay rent on time and take care of the property, but this isn’t always an easy feat. Even once you’ve found great prospective tenants, you still need to complete paperwork and vet them for things like credit score and past rental history.
Many landlords are hesitant about renting out their property because of the risks involved. However, if you are willing to take some precautions, it can be a rewarding experience with plenty of benefits.
As with any risk management strategy, taking rent in advance can be a great way to guarantee your income however not all tenants will agree to pay a large chunk of their rent upfront. Not only this but there are strict rules around how this money must be handled.
Advanced Rents, Rent In advance service is designed to provide you with a lump sum upfront without the regulatory burden that comes with taking rent upfront from your tenants.
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What is Rent In Advance?
Rent In advance is a premium managed service that pays you the first six months of your rent, minus a small fee on the first day of the tenancy. We then collect the rent from the tenant each month.
If your tenant stops paying rent, our expert team are on hand to manage the arrears and will attempt to get the tenant back on track. If that fails, we also manage the eviction case for you – all while paying you the rent on time.
With Rent In Advance, you’ll also enjoy all the benefits of Rent Guarantee Insurance, offering additional peace of mind.
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Why Choose Rent In Advance?
Rent In Advance is a service to help you get access to cash quickly and provides you security knowing you have your rent. This money can be used to increase your portfolio, carry out necessary works on your current properties, pay off debt or go on that long-awaited holiday.
There are no limitations on how you use the money.
Benefits of Rent In Advance Includes:
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Guarantee your cashflow - 6 months' rent upfront, every 6 months
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Peace of mind - Forget about rent collection hassle and rent arrears
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Fixed fee - from 12.5% of annual rental income (including all taxes) with no hidden costs
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Rent Guarantee Insurance - Included as standard.
How Does Rent In Advance Work?
Step 1
Your tenants are comprehensively referenced by Advanced Rent through our cloud-based referencing platform.
Once the tenant referencing is complete, our team will send you a final report for your own records.
Step 2
Complete our form on our cloud-based portal and your account manager will contact you advising what additional documentation we may need.
Step 3
We set up the tenancy agreement, send for signature & protect the deposit.
Step 4
Once all tenancy documents have been checked, we will pay you 6 months rent in Advance on the next rental due date.