Why You Need Rent Guarantee For Your Investment Properties
If you own a Las Vegas investment property, you’ve likely come to appreciate the stability this monthly source of passive income can bring. However, the financial difficulties caused by defaulting tenants have the potential to negatively affect your rental business. In a sector where ceasing business with a tenant can cost thousands but missing rental payments can cost you more, more and more property owners are choosing rent guarantee to avoid interruptions in cash flow.
What Is a Rent Guarantee?
A rent guarantee is where your Property Management company pays your rent on time regardless of the tenancy. It’s a rare “insurance-like” feature that involves an applicable monthly applicable deductible that ensures your continuous stream of revenue regardless of whether your tenant pays late or fails to pay due to a lost job, reduction in income due to a sudden illness, or financial irresponsibility. A rent guarantee will ensure you continue to receive rent!
What Are the Benefits of a Rent Guarantee?
Aside from the obvious financial benefit, rent guarantees hold numerous benefits for property owners. Among them are:
Lowered risk – instead of the constant personal financial risk usually incurred by property owners and influenced by each individual renter, the risk is transferred to the much more financially stable property management company offering the guarantee.
Reduced hassle – regardless of how you currently collect rent, overseeing multiple payments can be a hassle. Our Ultimate Coverage plan offers rent guarantees as part of a full suite of property management services, offering full predictability.
Eviction service – in the event that your tenant stops paying altogether, the company offering the rent guarantee will also oversee eviction proceedings as well. Home365’s Comprehensive Expense coverage includes eviction as well!
Reduced stress – one of the largest sources of landlord stress is the financial stress missing rent payments can bring. Rent guarantees eliminate this possibility, reducing landlord stressors significantly.
In short, rent guarantee is a rarity that unique to Home365 it aims at reducing uncertainty in an often unpredictable market.
Contact Home365 Today
If you own a rental property in Las Vegas, Los Angeles, Orlando, or Miami and crave the cash flow stability that comes with a rent guarantee, Home365 has a solution you can feel secure with. Contact us or request a quote and more information online at your earliest convenience. We can help you find a property management plan that fits your budget.