The guaranteed rent scheme is popular in London as it offers landlords peace of mind, as well as a steady stream of income without the hassle of managing their rental property. It is also a popular choice for landlords who live overseas or do not have the time or resources to manage their property themselves.

The amount of rent paid under the scheme varies depending on the location, type, and condition of the property. Generally, landlords can expect to receive between 85% to 100% of the market rent for their property.

In exchange for the guaranteed rent, the letting agency or property management company takes on the responsibility of managing the property, finding tenants, conducting maintenance and repairs, and dealing with any tenant-related issues.

It’s important to note that not all guaranteed rent schemes are the same, and landlords should carefully review the terms and conditions before signing any agreement. Some schemes may charge higher fees, while others may limit the landlord’s involvement in managing their property.

Overall, guaranteed rent schemes can be a convenient and hassle-free option for landlords in London, but it’s essential to do your research and choose a reputable company with a proven track record.