Further information about our Guaranteed Rent Package

Guaranteed Income Calculator

Monthly Rent

Amount paid by tenant each month (£)

Comparison Term (years)

Use an agent to find tenants?

Yes

Agent Contract Type

Tenant Find cost

One off charge made by the agent for finding the tenant (defaults to 1 month rent)

Tenant Find monthly %

The percentage of tenant rent that is withheld by the agent

Guaranteed Rent Agent Fees %

Agent covers all repairs?

Yes

Agent Full Repairing Monthly %

The percentage of tenant rent which is withheld by the agent to cover repairs

Monthly Repairs and Maintenance (£)

An average monthly value for all repairs and maintenance including callouts (£)

Average Tenancy Length (months)

Likely gap between tenancies (days)

Tenant changeover costs (£)

AST Term Value

AST Guaranteed Rent Term Value

Guaranteed Rent Term Value

You make an extra

Guaranteed Rent Term Value

You make an extra

Let us have your name and email and we'll be in touch

email address

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How much can I earn with the Guaranteed Rent Package?

This is bound to be your first question. You can use this calculator to compare the income you'd receive from an AST / assured tenancy against how much you'd receive in Guaranteed Rent from us

In the first box, type the "retail value" i.e. the amount the tenant would pay per month for your property

Set the Comparison Term slider to a value you are happy with. We would typically request a 3 or 5 year initial term. The longer the term, the more certainty you have

If you have previously found your own tenants, say No to the "Use an agent to find tenants?" question. The form will adjust accordingly

There are broadly speaking three ways in which an agent will source tenants:

1. taking a one-off payment for a successful placement (typically equal to 1 month's rent);
2. taking a percentage of the rent paid each month (typically 10%);
3. offering a guaranteed rent irrespective of whether the property is tenanted. This is typically much more than the percentage for option 2. In your agreement, it might be expressed as the percentage you will receive, as opposed to the percentage withheld. For example, if your agreement states that the agent pays you 70%, you would put 30 into the Guaranteed Rent Agent Fees % field

If your agent covers repairs, this will typically be via an additional percentage of the rent. You can provide the percentage charged for this service and/or an average amount that would be spent on repairs and maintenance field. This may vary significantly month to month, so put an average figure in

Complete the remaining fields with reasonable average figures. The Tenant changeover costs should include amounts for advertising if you find your own tenants, redecoration, replacement items, etc and don't forget your time

The calculator will show you the difference in income for you between renting your property via an AST vs our Guaranteed Rent Offer - it will do this without needing to submit any information to us

However, if you would like to have a conversation with us, complete the name and email fields and hit the Submit button. You will also be sent a copy for your records, and we will be in contact very soon

What do we provide?

Everything from the Online Management Only Package

Listing Creation

Every property is different. We take time to understand the property and the area it is located and work with you to create the most appropriate customer avatar.

We then create listings on all the major Online Travel Agents (Airbnb, booking.com, vrbo, Expedia, Tripadvisor, etc)

Calendar Management

We set up calendar synchronisation across all booking channels to prevent double booking

Ongoing Price Optimisation

Our systems constantly analyse the prices and the occupancy of similar properties in the same area. Using this information, combined with bespoke rules, our systems regularly update the nightly prices to ensure that the property is booked profitably

Custom Guest Guidebook

We will create a custom electronic guest guidebook which will detail all that guests needs to know and may want to know about the property and the local area.

Example Guest Guidebook

Guest ID checks

As part of the booking process we will request government ID which will be checked against the name and other criteria such as minimum age of the booker

Access will not be granted until valid ID is supplied

Guest deposit handling

We require guests to pay a security, damage, excess cleaning and excess guests security deposit

We handle the requesting, taking, holding and returning of this deposit

Check in management

Access codes and instructions are only provided once the checks have been completed and deposit paid

We also send automated emails on the first morning to check all is well and on the last night reminding them of checkout time and procedure

Guest Support

We provide first line guest support and are able to answer the majority of guest questions

Anything more in depth would be passed to the owner

Plus everything from the Profit Share Package

All furniture

If the property needs or could do with new furniture, we will provide it

All furnishings

We will refresh furnishings as and where necessary

All small electricals

We will supply all the necessary devices such as lamps, televisions, microwaves, kettle, smart speakers, etc. We will not supply larger equipment such as ovens

All linens

A short term rental property requires lots of sets of linens to enable a fast turnaround to happen. We will supply all the necessary linen

Towels

Plenty of towels are required, and again we will supply them all

Photography

Guests look at the photos first, then read the text if they like what they have seen. We will dress the rooms and take professional photos for the listings

Housekeeping and minor maintenance

We will take care of all the cleaning, minor repairs and maintenance, restocking to get the property back to pristine condition each changeover

Contents Insurance

We will insure the contents with a policy from a reputable insurance company

Plus

Long term contract

At least 3 years, preferably 5-year contract which means guaranteed, stable income for you

Property maintained in showhome condition

From the day we sign the contract to the day we hand the keys back, we will work to keep the property in pristine condition which will include periodic decoration so that guests keep wanting to book

Guaranteed rent every month

Our agreed rent will be in your account on the same day every month for the duration of the contract

All utilities covered

We will take over all utilities supplied to the property plus the council tax.

The only items you will need to continue to pay are your mortgage (if applicable) and buildings insurance

Frequently Asked Questions

Will you cover the cost of cosmetic repairs to get the property ready?

Yes, we will cover the cost of cosmetic repairs and redecoration to get the property ready to accept guests

Will you cover the cost of major building works?

No, we would not get involved with major works such as structural, electrical rewiring or heating

Is my property suitable?

Probably, however, there are a number of things to consider starting with looking at any restrictions which may apply to the property. These restrictions could be imposed by, for instance, the Government, local authority, building covenant / management, your mortgage provider, etc.

We will also check to ensure that using the property for serviced accommodation doesn't detrimentally affect the local housing supply

There are some less tangible considerations such as whether the property is located in an excessively seasonal location: there has to be enough trade throughout the year to sustain the business

Can I inspect the property?

We welcome inspections

We will provide you with a link to our live reservation calendar. You are welcome to visit the property to inspect during a changeover or void period at very short notice - even same day

How do you prevent issues such as parties and anti-social behaviour?

We require government ID to be provided as well as addresses and security deposit. We check to ensure the lead booker is over a certain age and does not live locally

We require guests to sign our terms and conditions which allow us emergency access at all times and reserve the right to terminate reservations immediately for serious breaches. We do not accept single night bookings - our normal minimum is 3 nights

Typically we tell prospective bookers that there is CCTV in use at the entrance(s) - whether this is the case or not

Do you still get problem guests?

Yes. Very occasionally.

Problem guests are much easier to deal with than a problem tenant

During the course of an AST, it is perfectly possible for a tenant to cause massive amounts of damage through poor hygiene; allowing pets to toilet everywhere; neglectful and even willful destruction. A tenant living at a property can be very difficult to remove, especially if they have nowhere else to go

On the other hand, guests have a booking for a comparatively short, finite amount of time. If they cause issues. then our wide-ranging, but reasonable terms and conditions allow us to enter the property and terminate their stay if they are in serious breach. They cannot extend their stay without agreement

Tenants living in a property under an AST have tremendous protections in law. Short term rental guests do not benefit from these protections

Can I see example properties?

Yes, here are links to various websites in which you can see our properties and read truly impartial reviews from previous guests:

Airbnb - Apartment 7, Exeter

Airbnb - Tannery Mews Holiday Cottage, Chudleigh

Booking.com - Apartment 7, Exeter

Booking.com - Tannery Mews Holiday Cottage, Chudleigh

The Extra Mile Holiday Accommodation