Find answers to our most frequently asked questions below. If you can’t find what you’re looking for, please contact us and we’ll get in touch within 24 hours.
Guaranteed Rent is a service where Prem Property provides landlords with a fixed, reliable monthly rental income, regardless of whether tenants pay or not. We take on all the risks associated with rent collection and property management. This ensures you have a consistent income stream while we handle everything from tenant placement to maintenance, simplifying your property management experience.
When you partner with Prem Property, we sign a lease agreement with you, guaranteeing rent payments every month. We then take full responsibility for managing your property, including finding tenants, conducting regular inspections, handling repairs, and ensuring legal compliance. This service ensures you receive a steady rental income while minimising your workload and risk.
We offer Guaranteed Rent for a variety of property types, including:
The process starts with a simple consultation where we assess your property and determine the most suitable lease and management plan. Once we agree on terms, we sign a fixed-term lease agreement. We then take care of tenant placement, property maintenance, rent collection, and regular compliance checks.
Your guaranteed rent amount is based on your property type, size, and location. We use a competitive pricing model that ensures you receive a fair and consistent rental income. For example:
Prem Property handles all day-to-day maintenance and repairs for properties under the Guaranteed Rent scheme. We ensure your property is always in good condition and compliant with local laws. However, landlords are still responsible for major structural repairs or renovations.
We collect rent from tenants and ensure that it is disbursed to you on the 1st of every month. The entire process is streamlined to ensure that you receive your payment on time, every time. Our rent collection is managed via a secure online system, offering convenience and transparency.
A House in Multiple Occupation (HMO) is a property rented by multiple tenants who share common areas like kitchens and bathrooms. Prem Property specialises in HMO management, ensuring compliance with local regulations and managing tenant relations. We handle tenant placement, rent collection, maintenance, and quarterly property inspections, ensuring a smooth and profitable HMO experience.
If your property becomes vacant, Prem Property will work promptly to find a new tenant or lease operator. Under our Guaranteed Rent service, you will still receive the agreed rent, even during vacancies, minimising your risk.
Yes, Prem Property charges a fixed recurring management fee and a one-time procurement fee for property sourcing. We also charge a lease arrangement fee based on the type of property and solution. Here’s a breakdown:
1 month’s rent or £5,000 (whichever is less)
3 months’ rent or £10,000 (whichever is less)
In addition to Guaranteed Rent, Prem Property offers:
We are committed to ensuring that all properties we manage comply with local and national regulations. We regularly conduct inspections, update required safety certificates (gas, electric, fire), and ensure that properties meet all required standards. Additionally, we provide landlords with guidance to navigate changing legislation.
Yes, Prem Property can take over the management of your property, even if you already have tenants. We will assess your existing agreement and transition the management responsibilities to us while maintaining tenant relations and ensuring continuity.
We understand that circumstances can change. While our contracts are generally long-term, we offer flexibility and work with you to find solutions if you need to terminate the lease early. We’ll discuss the options based on your specific situation.
Getting started is easy. Simply contact us to schedule a consultation. We’ll assess your property, explain the options available, and provide a tailored plan to meet your needs. From there, we’ll handle everything, ensuring a smooth and stress-free experience.
