14:27 PM, 8th January 2020, About 2 years ago 4
Hi everyone, I was wondering whether anyone could provide insight on a question I’ve been asking myself for a while now. What exit strategies are used for the end of a Guaranteed rent contract?
More specifically, as you near the end of your 3/5 year lease with the landlord, what do you do with the tenants? I assume you would try to make sure that the tenant ASTs would terminate just before the lease agreement to allow for cleaning etc…
However, this may not be the case and let’s say a tenant leaves with 5 months to go, what could be done about that?
From my understanding an AST could not be use for under 6 months, and I think you would struggle to find someone for 5 months? So what would you do? Would you have to leave it empty (heavily impacting profitability) or is there a way to implement this into the agreement with the landlord to allow flexibility around termination dates?
This was just a grey area in the R2R strategy discussed by the ‘gurus’, so I was wondering if anyone who successfully does the guaranteed rent system could help.
Thanks you in advance,
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