ADVANCED RENT OPTION (ARO)
What is the Advanced Rent Option (ARO)?
ARO is our normal quality full Management service with the additional benefit of including a years rent upfront.
ARO is available for new and existing tenancies provided the property is compliant and the tenants pass a professional referencing check.
The ARO is changing the way investors and landlords are looking at their investments and is a huge game-changer for anyone with a buy-to-let property. ARO offers Landlords the ultimate in terms of peace of mind, convenience and financial freedom.
How it works
As a member of the ARO network, we use their proprietary Primary TenancyTM️ business model to pay you a year’s rent in advance, less our standard fees and charges. The rent is then collected monthly from the tenants in the property. Practically speaking and in other respects the ARO is similar to our conventional Full Management Service.
Assuming there is not already a tenant in residence, we will find you a quality tenant. Prior to move in we will ensure that the property is fully compliant and the tenant is professionally referenced and during the tenancy we will carry out all our normal duties as your managing agent. In the case of a new tenancy we will transfer your funds less our agreed fees once the tenant has moved in and paid their first months rent. If you already have a tenant we will transfer your funds once we have completed our checks, established a new 12 month tenancy and received the first months rent.
Landlord Rent Guarantee
If you choose not to have the rent guarantee and the residing tenant does not pay the full 12 months rent then you would be liable to repay the balance, or, we can collect it back from a new tenant at our discretion.
If you choose our Landlord Rent Guarantee and the residing tenant doesn’t pay their rent you will not be liable to repay us the amount not collected unless the tenant leaves the property and there is a void. (The ARO Landlord Rent Guarantee like other products on the market does not cover voids). In this event, where the tenant leaves during the twelve month contract, you have the option to pause the ARO, and we will re-let your property with a new ARO tenancy term, minus the rent portion not paid back by the previous tenant on the original ARO tenancy.
Alternatively, if there is rent outstanding and you decide to go in another direction with your property, you will be liable to refund the portion ofoutstanding advanced rent.
If you are interested in the ARO please
contact us and one of our advisers will
be happy to help with your personalised
illustration.
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