When you rent out a property, traditionally, your rent is paid over to you monthly.
However, with Professional Properties ‘Advanced Rent Option’ we will pay your rent up to one year in advance and carry on collecting the rent from your tenant on a monthly basis.
We will also include a ‘Rent Guarantee’ policy so, even if the tenant doesn’t pay us, you won’t have to repay any of the 12 months rent that you have received in advance.
The only thing we don’t cover is any void periods but, even then, you won’t need to pay us back if we keep managing your property because we will normally recoup any shortfall from future rents.
In order to qualify for the Advanced Rent Option, your property must be on our fully managed service where our usual fees are payable.
Getting all your rent upfront for a year has many potential benefits. There is the peace of mind of paying your mortgage on time even if the tenant pays late. There is also the flexibility and freedom of being able to use the money now. It could be to invest in another property, pay for a wedding, go on a fantastic holiday, do home improvements or buy a new car; the list goes on.
The ‘Advanced Rent Option’ is not a loan, so there is no additional paperwork, just the relevant lettings agreements. Also, the Advanced Rent Option doesn’t depend on your credit rating either and your credit rating will not be affected in any way.
This option is exclusive to Professional Properties in this area and the facility cannot be offered by any other agent. The Advanced Rent Option is always subject to limited availability and available at our discretion but generally, it is always available.
We are always looking for solutions to help our customers in any way that we can and our Advanced Rent Option is simply another way in which we can help our landlords benefit from investing in property.