The service provides landlords with guaranteed rental payments on the day the rent is due, even if the tenant defaults or makes a late payment. It also comes with free legal expenses and a host of other administrative services, in return for a 6% monthly fee.
The ‘Find a Tenant’ service is also available whereby Rent on Time will market the landlord’s empty properties on over 100 property website search engines for just £75 plus VAT.
Robert McCoy, senior product and communications manager, commented: “This exclusive arrangement with Rent on Time comes at a point when we are expecting to see an increase in demand within the rental sector. Intermediaries will be able to offer their landlord clients a secure recurring income, which allows them to focus on the returns from their investment, without having to worry or waste time with rental payment collection and potential disputes. Intermediaries will also benefit from an additional income stream from the service.”
Paul Pearce, business development director at Rent on Time added: “We are very pleased to be working with Sesame Network members. Our product services should interest both mortgage brokers with buy-to-let clients and also IFAs who deal with small or large property portfolio clients. The rental sector is buoyant and we can help intermediaries to build a substantial monthly income stream adding extra value to their business.”
