Question 1

What is Guaranteed Rent?

Accepted Answer

With our Rent Guarantee Scheme you'll receive a pre-agreed amount of rental income for up to 5 years. Regardless of whether the property is occupied, the rent is paid by the the management company or the local authority and is not dependent on you relying on the tenants.

Question 2

How does the Rent Guarantee Scheme work?

Accepted Answer

We become your tenant therefore ensuring that you get a fixed rental income each month. We then sub-let your property (legally, of course!), on a Assured Shorthold Tenancy (AST). You will receive your rent each month whether there is a tenant in place, or not.

It's in our best interest that we find the best tenants possible. We will deal with any repair work required at the end of the tenancy (subject to a maximum value of six weeks rent) and our in-house legal team will deal with any breaches of the AST at no extra cost to you.

Question 3

Do you charge any fees or commissions?

Accepted Answer

No. We charge nothing to our landlords for the service we provide. We make our money on the difference between the rent we pay you and rent we collect from tenants or the local authority.

Question 4

What type of properties qualify?

Accepted Answer

We manage a range of properties from studios to a 75-room hotel.

Question 5

How much rent will I get?

Accepted Answer

As a rule of thumb, we’re normally able to give a monthly rent payment within +/- 15% of the standard market rate for your property. Even if the rent is slightly lower than the regular market rate, you will most likely have more money in your pocket at the end of the month due to the cost-saving features within the Rent Guarantee Scheme.

Question 6

How do value properties and how quickly can you make an offer?

Accepted Answer

We can rent your property directly from you for a fixed-term tenancy, paying you a guaranteed rent in-line, if not higher, than market rates. We value properties based on lots of different factors; location, condition, size, etc.

If the numbers make sense for you and us then we can make an offer within 24 hours.

Question 7

What type of contract is in place?

Accepted Answer

We provide a commercial agreement which has been tailor-made for a Rent Guarantee Scheme. Effectively, we (Your Street) become your sole tenant for the period of our contract (typically 3-5 years) which gives us the authority to manage the property on your behalf. Ownership is, of course, always in your name and this never changes.

As for our tenants, they typically sign a 12-month tenancy agreement with a 6 month break clause, and extend from there (our running average tenancy is 13 months).

Question 8

Will there be an issue with my mortgage provider in signing a commercial agreement?

Accepted Answer

As we have no security of tenure, there should not be an issue here.

Still, we recommend that you seek authorisation from your lender before entering into any contract, just to be sure. We have specific documentation that you can give to your lender along with our contract that will appease any concerns they may have.

Question 9

So you pay the rent directly to me?

Accepted Answer

Yes. Contractually, we’re your tenant, so we pay the rent. The money goes directly from our bank account to yours. We generally prefer to pay you on the fifth of each month unless you specifically ask otherwise.

Question 10

How do I find out the value of my property?

Accepted Answer

There are several ways to find out the value of your house. From getting advice from an estate agent, using property websites, using online property valuation tools, or seeking advice from professional valuers or surveyors. Getting your property valued depends on your personal preferences, time and budget. However, the most common way to determine how much your house is worth is by getting a property valuation from a qualified professional.

Question 11

What are the different types of property valuations?

Accepted Answer

There are different types of valuations available, including instant online valuations, virtual valuations, and in-person valuations from local experts. An instant online valuation is quick and convenient, virtual valuations allow for a more in-depth assessment of your property, while an in-person valuation from a local expert can provide valuable insights into the local property market and factors that may affect your property's value.

In-person valuations: An in-person home valuation is typically the best type of valuation as it includes a detailed inspection of the property by a local expert. This can involve a thorough assessment of the property's size, condition, location, and unique features, as well as an analysis of recent sales in the area. The valuer may also take into account any renovations or upgrades that have been made to the property. The result is a more comprehensive and accurate valuation of the property's current market value, which can be useful when buying or selling a home.

Online valuations: An instant online home valuation typically includes an estimate of the current market value of a property based on publicly available data such as recent sales in the area, property size, and location. Some online valuation tools may also take into account unique features of the property, such as age and condition, to provide a more accurate estimate.
For an online home valuation on your property, use our quick and easy-to-use home valuation tool today to find out how much your house is worth in just the click of a button.

Virtual valuations: Virtual home valuations have become increasingly popular in recent years, particularly in the wake of social distancing and an increase in working from home. This type of valuation involves using video technology to give an estate agent a virtual tour of your property, who then provides a valuation remotely. The benefits of this type of valuation include the convenience of not having to schedule an in-person visit and the speed of the valuation process. However, virtual valuations may not be as accurate as in-person valuations, particularly if there are issues with video quality or connectivity. For a free virtual valuation of your property, book yours today to find out how much your house is worth.

Sales vs Lettings valuations: Sales and lettings home valuations differ in their approach and purpose. A sales valuation is focused on determining the current market value of a property for the purpose of selling it. This involves analysing sales data, the condition of the property, and other factors that can affect its overall value. A lettings valuation is focused on determining the rental value of a property. This involves analysing the local rental market and the demand for properties in the area. The purpose of a lettings valuation is to give landlords an accurate estimate of the rental income they can expect to generate from the property.

Question 12

The benefits of a home valuation

Accepted Answer

1. Receive an accurate estimate: Whether you're just curious to know the value of your home or if you're deciding to sell, by choosing to get a valuation of your home, you can find out an accurate estimate of your property's current market value.

2. Setting an asking price: When selling your home, knowing a suitable asking price can be difficult. Booking a valuation can set a realistic asking price for the property, giving you more peace of mind and improving the chances of a successful sale.

3. Negotiating: Not only can it help with the asking price, but it can also help with negotiating power. Once you know the value, you'll have a clearer understanding of how high or low you can go in the negotiation stages.

4. Valuable market insights: A home valuation can provide valuable property market information and insights, including recent sales data and trends to help you compare.

5. Potential issues: A valuation can help highlight any problems that may arise when selling your property and highlight any unique features that your house has.

6. Financing and insurance: A home valuation can be used to secure financing or insurance for the property.

7. Tax purposes: Getting your home valued can be helpful for tax purposes, such as determining the value of an estate for inheritance tax.

Question 13

Book your free property valuation today

Accepted Answer

Take the first step to selling your property today by finding out how much your home is worth with Your Street. In just a few clicks, with one of our local experts or use our quick online valuation tool.

If you've already found out the value of your house, instruct Your Street to sell your home for you now, hassle-free.

Question 14

Property valuation FAQs

Accepted Answer

How much does it cost to get a home valuation?
The cost of getting your house valued in the UK can vary depending on the type of valuation needed and the location. Some in-person valuations can cost anywhere from £100 to £1000, while online valuations are usually free. At Your Street, our in-person valuations are completely free of charge.

Why can't I get a valuation for my property?
There could be several reasons why you're unable to get a valuation for your property. From lack of historical information, current market conditions, having an unusual property or a shortage of valuers in your area. Speak to one of our expert advisors today to find out how we can help you.

What about properties in Northern Ireland and Scotland?
The property valuation process in Northern Ireland and Scotland is similar to that of England and Wales. However, the legal systems and property markets differ. Therefore, the valuation process may vary slightly.

How to calculate house values on my street
Calculating house values in your street can be challenging as it involves analysing multiple factors that can affect the value of a property. However, some of the steps you can take to calculate house values in your street are:

1. Look up recent sale data to see what other properties have sold for.
2. Consider the location of the property and the amenities it's close to, such as schools, greenery, busy roads, public transport, and the overall desirability and safety of the area.
3. Consider the characteristics of the properties and if they have any unique features that could add or detract from its value.

What is going to happen to UK house prices?
The UK property market is constantly evolving and is influenced by various economic and political factors. Therefore, it is difficult to predict the future trends of the property market. However, many experts predict that the UK property market will continue to grow, albeit at a slower rate, due to factors such as low-interest rates and high demand for property.

What will my home be worth in five years?
It is difficult to predict the exact value of your home in five years as the housing market can be volatile and fluctuate based on various factors such as the economy, interest rates, and supply and demand. It's important to remember that any estimate of your home's future value is just that - an estimate. The UK housing market is constantly changing, and many things can affect your home's value.

Why are you booking a valution today?

Our experts are happy to help with your valuation, no matter the reason.