Belvoir Peterborough’s Investor Rental Pre-Let Agreement
Belvoir Peterborough is excited to launch our new Investors Package which guarantees income on your investment from day one!
The main reason for entering the Buy-to-Let market, or indeed increasing one’s portfolio, is to generate a profit, be it from rental income or long term capital growth. Traditionally, in the majority of cases, the investor has approached an Estate Agent, secured a property with vacant possession and then proceeded to look to secure a tenant. Although it is impossible to be precise, it is not unreasonable to assume this process could result in a void period of anything up to 8 weeks!
With Belvoir’s Investor package, rental income is paid from the day of legal completion of the purchase. Most probably, this will be because Belvoir will have pre-let the property with a tenant ready to move in straight away. In the unlikely event of this not happening, Belvoir will guarantee rent until the first tenancy commences.
Properties available under the scheme will be offered on a “turn key” basis, in so far that, they will include window dressings, floor covering throughout, light fittings, kitchen appliances and bath or shower room trim. Exterior works to the property, including parking areas, communal gardens and general appearance will be completed. Interior works to the block and or property, including communal hallways, carpets and fixtures and fittings will also be completed. The property will be ready for occupation and all required certificates will be provided.
This offer applies only to the first tenancy and rental will be paid less management fees*. The rental figure will be subject to market conditions and may change up or down. Belvoir will provide evidence to justify any required change.
On top of all this, Belvoir will provide FREE Loss of Rent and Legal Expenses Insurance for the first two years. This insurance protects against tenants defaulting on their rental obligations. It is not a continuing guarantee of rent if the property later becomes void. Belvoir will pay the annual premium for the Rent & Legal Expense Insurance for a maximum of 2 years. The cover will be taken out when the first tenancy commences.
Should the Tenant default on rental payments, Belvoir will pay the excess to make a claim on the insurance. The Purchaser will continue to receive rent until the tenant vacates. Once the tenant has vacated the Purchaser will stop receiving rent and the Agent will re-let the property to a new Tenant. All other terms relating to the Rent Guarantee & Legal Expense are standard and set out in the policy.
The first properties where the scheme is available is a small development of apartments at Bretton Green. A recent conversion from office to residential, their will be a mixture of one and two bedroom apartments with the majority of the two beds benefitting from en-suite and separate shower rooms. Currently available are two bedroom apartments at £110,000 including Investors Package.
For more info, Please contact Martin or Lottie at Belvoir Peterborough on 01733 511990 or e-mail Peterborough.sales@belvoirlettings.com
* The agreed management fee is 10%+VAT. All other fees & terms as listed in our Standard Terms & Conditions apply.
