Divrse guaranteed rent letting agent

[John]

Hi I'm in two minds wheather to let my lovely terraced house through a guaranteed rent letting agent, advice needed please

[Richlist]

Its suitability depends on the lettings agents terms & conditions and your attitude towards risk & return.

It sounds like it might be a situation where the lettings agent decides who rents the property, so you could end up with anybody, even someone who you would normally consider totally unsuitable moving in.

More details will probably result in a better response

[Melboy]

Mainly what Richlist has said already but you would need to tread very carefully allowing any letting agent to place their tenant of choice into your property.

Personally I wouldn't never do this as I like to do my own tenant vetting and acceptance and fortunately for me it has worked satisfactorily for me over many years of letting property.

[Grampa]

As it is a supposed guaranteed rent I am assuming you will be charged a greatly increased fee.  Some of the downsides to these type of schemes are:

• You have not control who is moved in
• Agent will be under pressure to get a tenant in so lot higher risk of unsuitable tenants housed.
• If the agent goes out of business what protection will you have
• Your mortgage may not allow these type of set up-ups.
•  Your buildings insurance may be invaliD

Some agents do this as an angle to get higher fees but all they are doing is taking out their own landlords insurance policy for a couple of hundred quid which you could do yourself.

•