Guaranteed Rent London Faqs

Who are the tenants?

Most landlords prefer professional or corporate tenants in order to reduce the risk of problem tenants. Mayfair enters into a contractual agreement direct with you (the landlord), which means that Mayfair becomes your professional, corporate, risk-free tenant and pays a Guaranteed Rent.

What if Mayfair fails to pay the Guaranteed Rent?

In our contractual agreement we protect our clients with a break clause. This ensures that, if we fail to meet our obligations, the agreement becomes null and void. The property and tenants residing in the property by default return into your (the landlord’s) control. Irrespective of our contract, Mayfair has a built a reputation throughout London based on personal introductions, transparency and integrity, which means that its commercial suicide for us should we fail to meet our obligations to you (the landlord).

Who will reside in the property?

It’s our responsibility and business model to place the highest calibre of tenant in the properties we lease. Therefore, to ensure that Mayfair remains profitable, we must conduct strict due diligence to ensure that the tenants meet their rental obligations towards us. Should the tenants fail to meet their obligations to us, Mayfair are committed to meeting our Guaranteed Rent financial obligations to you (the landlord).

Therefore, we seek the best possible tenants, which sometimes includes our staff, interns or associates on short-term employment contracts in the city.

When do you commence the payments?

Irrespective of how long it takes Mayfair to find a suitable tenant, our Fixed Rental Income Product guarantees that, once our agreement is signed, and the property is presented in a condition acceptable to us, our agreed Guaranteed Rent payments will commence within a maximum of 21 days.

How long is the contract?

Our Fixed Rental Income Product usually runs from 1-7 years depending on how long you wish to eliminate the risks associated with being a landlord for. You can opt to extend the agreed period at any time by contacting Mayfair.

How do I find out if my property is suitable?

Firstly, you need to call Mayfair or complete our online form. On receipt of your property information one of our consultants will arrange an internal inspection and during this review we will let you know if for any reason the mentioned property isn’t suitable.

What areas do you require properties in?

We immediately require individual properties and entire portfolios throughout West London, London and within the M25. We also require the same in the South East. We will also offer Guaranteed Rent and proceed on multiple properties (i.e. portfolios) in or within a 30-minute commute.

Is this simply an insurance policy?

Definitely not. Mayfair’s Fixed Rental Income Product enables the landlord to benefit from a Guaranteed Rent for 52 weeks of the year, which is an anomaly in comparison to any other products on the market. You will receive the agreed Fixed Rental Income 52 weeks of the year, even when the property is vacant.

What about damage to the property?

The agreement Mayfair enters into with you (the landlord) ensures that we must register a deposit on behalf of the sub-tenants. This ensures that Mayfair is held responsible for the cost of the damage to the property up to the sum of 1.5 months rent. When a tenant vacates the property the detailed inventory obtained ensures that Mayfair returns the property in the same condition it was received in (subject to a fair wear and tear allowance).

How much Guaranteed Rent will I receive?

Many landlords fail to calculate the net rental figure they actually receive across a 12-month period. Net returns fluctuate considerably when landlords factor in the average void period of six weeks, letting charges, monthly management commissions of 10-15%, VAT at 20%, rental arrears, renewal fees and court eviction costs, amongst other unpredictable costs.

When landlords calculate the above (which is not an exhaustive list) the net returns fluctuate considerably; however, Mayfair’s Fixed Rental Income Product guarantees a set amount that is similar and in some cases more than you would receive when letting through a conventional agent.

Why should I choose Mayfair’s FRIP (Guaranteed Rent)?

Unlike other firms it’s not rent guarantee insurance. It’s not an underhand council and benefits scheme operating as an intermediary between the council, DSS tenants and you. It’s not a start-up rent-to-rent scheme that’s here today trading online and gone tomorrow.

Mayfair’s Fixed Rental Income Product is one of our flagship products and, as a result, is testament to the strength of our success and increasing market share throughout London.

Curious about the amount of Guaranteed Rent you would receive? Request a call back opposite.