The True Cost of Guaranteed Rent
A case that The Property Ombudsman was asked to review came from landlords about non-payment of rent and damage to the property. The landlords let the property to the agent as a tenant under a three-year agreement, giving the agent the authority to sub-let the property in return for a guaranteed rent. The complaints concerned events at the end of that agreement, including rent for a period when a sub-tenant’s belongings remained in the property, and damage to the property and contents that was found when the landlords regained possession.