Landlords could save by receiving annual rent upfront
Landlords who opt to receive their annual rent upfront in one lump sum could save money, according to Choices Estate Agents.
The Advanced Rent Option (ARO) is set to launch in late August and aims to give landlords more financial freedom.
This option, subject to referencing, can provide landlords with up to 12 months’ rent in advance.
Simon Shinerock, owner of Choices Estate Agents, said: “The ARO provides landlords with a great opportunity to improve their cashflow.
“Rental market conditions have been tricky for some time now and we want to provide landlords with a straight-forward way to wrestle back control of their finances”
“The cost of letting a property is likely to keep on rising, while the private rented sector will only become more regulated.
“With this in mind, landlords can benefit from receiving their rent upfront and start planning their future investment strategy accordingly.”
If a landlord wants to benefit from the ARO but has a tenant in-situ, they can re-reference the tenant before signing an agreement with the agency.
The option is not a loan, and does not depend on a landlord’s credit rating.
The ARO is being offered through Choices and its associated brands using the Primary Tenancy service.