Frequently Asked Questions
We understand that managing properties can come with a lot of questions,
and Prem Property will provide you with clear answers and solutions.
How do I know the investor will take care of the property?
We select investors with a proven track record of managing multiple properties not only in the West Midlands but throughout the entire UK. These investors are committed to maintaining high standards for the properties because they have invested significant capital into the business and place great importance on upholding their quality reputations
What happens if the guaranteed rent property is damaged?
The expenses of repairing a damaged rental property will be assessed based on the reason behind the damage. Should the damage be caused by the tenant or the guaranteed rent provider, the cost of repairs will be covered by the guaranteed rent provider. However, if the damages are attributed to general wear and tear to the property the repairs are the responsibility of the landlord.
What do you charge for your services?
For guaranteed rent services, no fees are charged to the landlord for the service.
For HMO and Serviced accommodation property management, we charge a percentage of the monthly property gross rent.
How long is the guaranteed rent contract?
The length of the contract in guaranteed rent management is flexible and can vary based on the needs of our clients. Our guaranteed rent providers generally offer contracts of 3-5 years in length. You may contact us to discuss your requirements.
Can I rent out an unfurnished property?
Yes, our property management and guaranteed rent services include the rental of unfurnished properties. With our comprehensive services, you can be assured that your unfurnished property will be successfully rented out to high-quality tenants. We also offer a property furnishing service via our partners.
What if the investor doesn't pay rent?
The likelihood of this happening is low because we conduct comprehensive checks on all guaranteed rent providers prior to engaging. We also assist guaranteed rent providers in addressing issues with rental payments. Finally, all contracts we enter into with guaranteed rent providers state that if rent remains outstanding for 28 days or more, the contract will be terminated and the property will be returned vacant.
Who pays the bills?
Our guaranteed rent providers. With all of our agreements with guaranteed rent providers, it is their responsibility to pay all utilities and bills to do with the property. Prem Property will ensure that all bills are switched to the guaranteed rent provider's name to ensure a smooth transition.
Is guaranteed rent legal?
Yes. This is 100% legal. Rent-to-rents would only be illegal if the renter does not have the landlord's consent and if they use the incorrect contracts.
Which areas do we cover?
Prem Property is based in Birmingham, West Midlands, and our property management services extend to several key areas within the region. We proudly serve landlords in Birmingham, Coventry, Wolverhampton, and our reach extends widely across the West Midlands, offering property management and guaranteed rent solutions tailored to the unique needs of each location.
Easing the life of landlords & providing the premier service is our passion