What is the Advanced Rent Option (ARO)?
ARO is a quality full management service that includes a year’s rent upfront at no extra cost. ARO is available for new and existing tenancies provided the property is compliant and the tenants pass a professional referencing check.
The ARO is changing the way investors and landlords are looking at their investments and is a huge game changer for anyone with a buy-to-let property. ARO offers Landlords the ultimate in terms of peace of mind, flexibility and financial freedom.
The owners of Goldsmith Property have been letting property in Bristol for over 20 years, so you can rest assured that when you choose an ARO through us you and your property are in safe and experienced hands.
How it works
As a member of the ARO network, we use their proprietary Primary TenancyTM️ business model to pay you a year’s rent in advance, less our standard fees and charges. The rent is then collected monthly from the tenants in the property. Practically speaking and in other respects the ARO is similar to our conventional Full Management Service.
Assuming there is not already a tenant in residence, we will find you a quality tenant. Prior to move in we will ensure that the property is fully compliant and the tenant is professionally referenced and during the tenancy we will carry out all our normal duties as your managing agent. In the case of a new tenancy, we will transfer your funds less our agreed fees once the tenant has moved in and paid us their first month’s rent. If you have already have a tenant we will transfer your funds once we have completed our checks, established a new 12 month tenancy and received the first month’s rent.
Landlord Rent Guarantee
The ARO, like any conventional full Management service, is available with or without a rent guarantee. If you choose not to have the rent guarantee and our tenant does not pay us the full 12 months’ rent then you would be liable to repay the balance, or, we can collect it back from a new tenant at our discretion.
If you choose our Landlord Rent Guarantee and our tenant doesn’t pay their rent, you will not be liable to repay us the amount not collected, unless the tenant leaves the property mid tenancy and there is a void. In this event where the tenant leaves during the twelve-month contract, we would normally re-let your property with a new ARO for the new tenancy, minus the rent portion not paid back by the previous tenant on the original ARO tenancy.
Alternatively, if there is rent outstanding and you decide to go in another direction with your property, you will be liable to refund us the outstanding portion of advanced rent.