However, this occupation also comes with various added responsibilities and tedious tasks. Between dealing with administrative duties, handling unruly tenants, ensuring the property meets regulatory standards and conducting routine maintenance, managing a property is exhausting work.
Nevertheless, many property owners have found a solution to this problem – guaranteed rent schemes. These schemes, also known as rent-to-rent schemes, allow property owners to establish a legally binding contract with a third party (e.g. an individual, company or local council) who becomes responsible for controlling and managing the property for an agreed-upon period.