How Guaranteed Rent is Changing Property Management Forever
Belong on Aug 31, 2021
Almost 10 million Americans are behind in their rental payments. Guaranteed rent is a new innovation that protects homeowners when it comes time to collect.
A recent US Census pulse survey revealed that 9 million Americans were behind in their rent. That’s a figure sure to send shivers down the spine of anyone whose house is in the rental market, or who is considering it.
The last thing a homeowner wants to do is chase down a rent payment. Aside from the time, effort and stress, the obvious reality is that mortgage and expenses don’t stop adding up when a resident home stops paying the rent. Many homeowners resist the rental market for this very reason, even if it’s a better alternative to selling.
Enter: Guaranteed rent.
Guaranteed rent keeps the bills in check by paying homeowners the rent on the first of every month, regardless of when the resident pays. It’s a reflection of Belong’s commitment to creating a painless and friction-free experience for homeowners and confidence in their approach to finding someone to love your home.
Because Belong believes so deeply in their screening process — and because they refuse to leave their homeowners hanging — they step in at this point and start picking up the tab. Not only that, but they take on the responsibility of collecting any outstanding debts from the resident, or in the worst-case scenario, handling the eviction process.
Belong offers two choices to landlords with guaranteed rent:
Option 1: Guaranteed rent on the 1st of every month
It’s as simple as it sounds. Belong will make sure payment hits your bank account on the 1st of each and every month, no matter what. You get paid like clockwork. And Belong manages the collection process with your residents if they fall in arrears; it’s their problem, not yours.
Option 2: Guaranteed rent for a year, upfront
As further evidence of confidence in its community of residents, Belong gives you the option to collect the entire year’s lease upfront. So you can sit back, relax, and let someone else worry about collecting rent every month.
Hand over the keys and let Belong take it from here
Guaranteed rent is just one way that Belong is different from traditional property management services. Belong will list the house and use proprietary tech to find the exact right price for your market. Any necessary renovations or repairs will be handled by their own Belong Pros to get it market-ready for marketing and showings. Belong shows the house, screens tenants, and arranges the move-in. Beyond guaranteed rent, you could say that Belong is guaranteed to be different in every way!
See if your rental home qualifies for guaranteed rent today at Belong.com.