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KhaalidMohamed

3 MONTHS RENT IN ADVANCE GUARANTEED RENT SERVICE

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Dear All Landlords,

We are Prestige Guaranteed Rentals, and are offering a new Guaranteed Rent service paying you 3 months rent in advance. This unique service is available to all landlords nationwide, and we are in need of houses or flats.

Our Guaranteed Rent service will pay you Guaranteed Rent from the moment of sign up and you will not have to deal with the stress of rent arrears, no void perios, no tenant eviction stress and BELIEVE IT OR NOT NO MAINTENANCE TO DEAL WITH AS WE TAKE CARE OF IT ALL.

Interested?

If you have a property available that is ready to be let out or even due to come up, you can contact us. Even if you a tenant that is giving you hassle, we can carry out a FREE TENANT EVICTION SERVICE, enabling you to land on our comfortable and relaxing GUARANTEED RENT SCHEME WITH 3 MONTHS RENT IN ADVANCE.

Regards,

Khaalid Mohamed

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Well Mr Mohamed

Could you supply a bit more information. How is it guaranteed? Is it underwritten by a insurance policy or your company personally?

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Dear Sir,

The rent is guaranteed by our company personally. We have a portoflio of properties that we guarantee on and we always try to add to our portfolio.

You rent is alway paid by BACs direct to your account on a monthly basis in advance. As well as being your tenant we are also manage the property for you at no cost. We have contracts with families globally who we occupy into our portofolio of properties. The beauty about this service is that you have no direct dealings with tenants, and you don't take any stress or hassle with regards to the property. You are only expected to sit back, relax and enjoy your monthly income. Your property is inspected on a monthly basis and full photographic reports are issued to you by us.

If at any point you wanted to inspect your property we can always carry out a mutual inspection with you and one of our representaives will accompany you.

Thanks

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Who is stated as the landlord on the tenancy agreement me or your company?

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Dear Sir,

There will be a company agreement between you (as the landlord) and us as your tenant. The agreement will state clearly everything you need to know.

With our tenant, there will then be a tenancy agreement between us (lessor) and our tenant (lessee).

Thanks

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I have a couple of issues with this kind of set-up

First I believe your company has to be registered with the FCA to sell guarantee based products which would be classed as a insurance product.

Second, What if your company stops trading or cant afford to pay the guaranteed rent promised. Do you offer personal guarantee's on top?

Thirdly, As a landlord I would lose control of who was living in the property and if your company ceased trading or went bust I would only have a tenancy with yourselves as tenant and wouldn't be able to evict the tenant because I wouldn't be the landlord of the tenant.

Fourthly. The agreement between landlord (owner) and your company as tenant couldn't be a Assured shorthold tenancy so what sort of tenancy agreement are you proposing?

These schemes also pay a lot lower return to the landlord (owner) what commission rate do you charge?

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Dear Sir,

To answer your queries:

First of all, to correct you we do not have to be registered with FCA as we are not an insurance company or are not selling you an insurance product. I would suggest that you relay to the FCA guidelines.

Secondly, we are an established firm guaranteeing rent on properties nationally. Our company is liable to pay you rent on a monthly basis as stated and as per the contract that will be drawn up between us and yourself. Our guarantee rent scheme gives our landlords absolute peace of mind, and takes over the complete management of the property and at the same time paying you rent on a guaranteed monthly basis. How many times will you as a landlord come accross a tenant that can not pay you rent on time, or even at all due to loss of jobs, benefit cuts/caps, suspended/cancelled housing benefit claims etc? I would say that it is something landlords come across many, many times, which leaves them to struggle with their mortgage payments, however our guaranteed rent scheme is being offered as a soloution to this matter.

Thirdly, you state that as a landlord you lose contol of who is living in your property. We occupy families suitable for the property size, as we have many types of contracts tha guarantees us rent from different schemes that we work with including the local authorities, therefore our rent is guaranteed, hence why we are financially able to guarantee your rent. You as a landlord would advertise your property for example in the local paper, gumtree etc. You would get a call from a potential tenant, you let them view, they are interested, you think they seem decent and do references on the tenant and as long as their references check out you ill grant them a tenancy. Their references might check out today, but what if they lose their job tomorrow? what if they are no longer entitled to housing benefit tomorroe? what if they just cannot afford to pay you rent any more financially? You will be lumbered with a tenant, not being able to pay you rent and having no other option but to evict through the courts by serving the appropriate notices, applying for possssion order and then bailiff order. These orders take months to obtain and throughout that time you have to pay your own mortgage, plus solicitor and court fees, and plus you have a tenant in your property not paying you rent. However we pay landlords guaranteed rent as we are guaranteed our rent by the local authority and other sources in which we have sources contracts from by being constant suppliers of properties to these schemes. Landlords cannot be paid guaranteed rent by the local authority and the only way they can do this is if they lease the property to the council on a long term basis and be paid circa 60% of the market rent.

Fourthly re: contracts. Yes you are right that it cannot be an AST, however there will be a company agreement (as stated in my previous answer) between us as the company tenant and you as our landlord. Our contracts are in depth and state all that you need to know and once both parties agree they are signed. To put the landlord's mind at ease we pay 3-5 months rent in advance from the beginning once sign up has been completed.

Finally even though other companies that provide guaranteed rent offer lower rates to the landlord we DO NOT. Depending on the size of the property, location, condition etc. we pay circa 85-90% of the market value GUARANTEED RENT. Though our landlords will be receiving 10-15% of the market value they have their peace of mind that their property/ies, are being looked after, in safe hands and they do not need to take the hassle of casing for their rent or even aving the thought in their mind throught the month as to whether they will be receiving their rent next month. Whatver we offer as rent to the landlord is what they receive, they will not be receiving any percentage lower as the 10-15% that we take as our margin includes, the rent being guaranteed, full management of the property, covering maintenance issues etc.

Our service is unique and we assure that no other can match.

Let me know if you have any further queries.

Regards,

Khaalid Mohamed

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I have some questions Mr Khaalid Mohammed in reflection to your establishment and upon what you quoted above that I've attached below;

"Yes you are right that it cannot be an AST, however there will be a company agreement (as stated in my previous answer) between us as the company tenant and you as our landlord. Our contracts are in depth and state all that you need to know and once both parties agree they are signed. To put the landlord's mind at ease we pay 3-5 months rent in advance from the beginning once sign up has been completed."

Why is it I didn't get a written contract with yourself when you were appointed to manage my two properties including paymemt to carry out various works for them that is beyond deniable? Why is it that you cannot and won't provide an inventory checklist for each house (a basic requirement to insure letting practises is upheld)?

How can you justify a gas certificate being valid (especially in a text message) when it was signed off 10 days AFTER tenants had signed a tenancy agreement and moved into the property (stating it's normal practise in this business)? How is it Prestige Guaranteed Rental's didn't spot that another gas safety certificate was signed by a non registered gas engineer with a number of gas safety breaches visible? How is it that £11,000 was spent on my second property with a printed list of expenditure yet some of those works weren't carried out whilst the contractor YOU hired as shown evidence from texts to bank statements that £8,000 was paid? Where is that £3000? A kitchen that is hung on walls with two brackets with no drawers, sharp edges and a cuboard above the stove and another blocking the gas leaver, is that value for money and fit for purpose? You did inspect this of course.

How can you justify the works at my third house as completed and fit for HMO specifications when the fire doors were clearly not fit for purpose (given the gaps around the frame and using old door fittings) whilst there was no fire alarms per room fitted and no fire signs installed whilst the new boiler was fitted with no monoxide alarm and missing work required to the flute (just as the 2nd property which had NO flute)? And how is it justifiable to inform tenants to 'mind how you shower' after they reported leaks to you and then the kitchen ceiling caved in under the bathroom of which you advised them to collect water in a bucket until the repair is done without reporting to myself about it for over a month? 

Why is it you stated in your rebuttal to your Property Redress Scheme you only had a "rent collect arrangement" yet clearly you were assigned to manage my properties? Why was there such an effort to provide contradicting invoices where your lawyer refuted one set to be the originals then you submit a second set as the originals of which didn't include any receipts? What sort of estate agent are you Mr Khaalid Mohammed?

If you don't wish to answer those in court then you know what to do, respond wisely to my lawyer with a satisfactory proposal. If you choose not to I'll continue where ever possible to seek answers and expose my ordeal all the way up the government regulating authorities and departments alongside the media and forums like this to reveal to wider audiences about your business (if one can call it that).

Thank you.

Yours sincerely 

Mr Tony Vasiliou 

 

 

 

 

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Wouldnt touch it with a barge pole, you would think as a managing agent he might be able to spell English but looking at the name maybe not. Edit to add : Just seen the original post date, we certainly scraping the barrel this week!

 

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I think Tony V. sums it all up for me as to why I shall just keep going as I have always done.   I'm in control !

Kerbut.......I know it is a 4 year old post but Tony V has come back and slammed Mr Khaalid Mohammed for the way he runs his business and clearly that is badly run from what I am reading.

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And it looks as if his company is still trading and has an up to date website .

 

Melboy , I realise that Tony V has come back and slammed the original poster (rightly so ) , it was just me , I read the whole post then looked at the original post date, at least it called some debate as its very quiet here .

 

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Hi Kerbut and Melboy, just to confirm I'm due for a court date soon in reflection to my ordeal against Khaalid Mohamed of Prestige Guaranteed Rentals. It's been a long battle but I'm determinated to keep up my fight to win with all the evidence and witnesses I have to bring down this rogue estate agent whom it seems has for a long time got away with making people's lives a misery and indeed putting them at risk.

Please do get in touch at Tonyvasiliou88@gmail.com if you have anything to share, my lawyers maybe interested to here from you + if you have a case against this agent do report it to the Property Redress Scheme which the agent is registered with.

Thank you 

Tony Vasiliou.

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