Advanced Rent Option (ARO™)
When you rent out a home you traditionally receive your rent monthly. With Sinclair Hammelton’s ‘Advanced Rent Option’ (ARO™) we will pay your rent up to one year in advance. There is no direct cost for the service and provided you pay our normal un-discounted Management fees there’s nothing more to pay.
For an additional charge of 3.75% we offer a guarantee on the rent so even if our tenant doesn’t pay us you won’t have to make a repayment. The only thing we don’t cover is void periods but even then, you won’t need to pay us back if we keep managing your property because we will recoup any shortfall from future rents.
In order to qualify for the ARO™, all you need to do is let us manage your property and agree to pay our normal fees and charges.
Getting all your rent upfront for a year has many potential benefits. There is the peace of mind of knowing you can pay your mortgage on time even if the tenant pays late. There is also the flexibility and freedom of being able to use the money now rather than having to wait. What you use the money for is up to you – it could be to invest in another property, pay for a wedding, go on a fantastic holiday, do home improvements or buy a new car; the list goes on as far as your imagination takes it.
Remember that the ARO™ is not a loan, therefore there is no complicated extra paperwork to complete, just our normal lettings agreement. Because it’s not a loan the ARO™ doesn’t depend on your credit rating either, so there is no need to worry about credit searches or that your credit rating will be affected in any way.
We are often asked how we can make the ARO™ available to our Landlords. The answer is that over the years we have built up some cash reserves which we use to offer this facility. As a company we don’t have unlimited reserves so the ARO™ is always subject to limited availability and available at our discretion but generally it’s always available and if not, you shouldn’t have to wait long to get it. The other reason we can offer the ARO™ is our Primary Tenancy™ business model which provides a host of additional benefits to our landlords and tenants.
Our aim is to provide our clients with the maximum amount of freedom and peace of mind possible. We understand and recognise the importance of looking after our client’s greatest assets and we take the responsibility entrusted to us seriously, diligently and respectfully.
Our Advanced Rent Option (ARO™) is simply another way in which we can help our landlords enjoy the freedom and peace of mind which is after all, for most of us, the biggest reason for owning rental property in the first place.