Providing a guaranteed rent for an owner means that HomeCome has to take all of the risks of being a landlord
The Guarantee – HomeCome will enter into a legally binding lease for a minimum of 2 years and up to 5 years according to your preference to undertake all the letting activities and take all of the risk of letting. In return HomeCome will pay you a guaranteed rent and expect you to take out non contents property insurance.
HomeCome becomes responsible for the typical risks that landlords face, including:
You may have already tried to let you property yourself or used a letting agent.
Usually you will have borne the above risks even if you have used a letting agent.
The letting agent would have provided a tenant finders service – and charged you for it; or “rent insurance” and charged you for it. But in the main you will have been exposed to the above risks.
“The Homecome scheme offers more to landlords than any letting agency can. All terms and conditions are explicitly spelled out, which makes things simpler for both landlords and tenants. Properties on the scheme are incredibly well looked after, which has saved me a great deal of money.”
– Mr Pat Lennon, Leicester
“In the last 6 years I have leased 6 properties to Homecome. All have been, and are, managed & maintained to a high and professional standard”
– Undisclosed client
The income you will receive from HomeCome is negotiable but significantly
greater than the £4400 in the example of a 3 bed house shown below – and
this is guaranteed for the term of your lease.
This compares favourably with the typical risks and costs of letting your
property through a letting agent as follows
|Table||Letting Agent £ p/a|
|less tenant finder||-300|
|less 1 month empty||-550|
|less rent insurance||-69|
|less 8% agent fee||-581|
|less 2nd tenant finder||-300|
|Owner net rent||4400|
And with HomeCome you have no worries about the property being empty or higher repair costs.