WHAT IS A RENTAL GUARANTEE PROGRAM?
A rental guarantee program is an agreement between an investor and a developer / property management company that guarantees rental income at a fixed rate, on new properties, for the Investor. Typically for the first 1-3 years after purchase. In the case of Aphrodite Hills it’s a three year Guarantee.
The property management company secures revenue by marketing and renting properties to their extensive clientele - a ready-made market. Their expertise in management will promote the properties, at the appropriate in and out of season rates, while all the time guaranteeing the investor a fixed return, irrespective of rentals secured.
WHAT ARE THE BENEFITS OF A RENTAL GUARANTEE PROGRAM FOR A PROPERTY INVESTOR?
The prime benefit of a rental guarantee is primarily to obtain rental income regardless of securing tenancy. The management company undertakes to maintain the premises and handles all guest communications. The rental guarantee pays the property owner each month or year depending on the agreed terms. When deciding on a rental guarantee program the investor, depending on circumstances, will consider whether the guaranteed rental rate will cover their required costs with the Guaranteed income. This factors when calculating the potential cost of vacancy.
This program effectively offers the Investor piece of mind as the responsibility to secure renters is entirely in the hands of the developer / management company. The rental guarantee program is available at a pre-construction stage too.
As an investment option in Cyprus, rental guarantees are highly sought after by property investors, especially in golf resort developments. The numerous attractions at golf resorts, including five star hotels, ensures a constant demand for vacation properties to rent, this in turn secures the Investor with a higher than average ROI.
APHRODITE HILLS RENTAL GUARANTEE PROGRAM
Aphrodite Hills Golf Resort has introduced a rental guarantee program for their new luxury villa developments Aeneas and Poseidon. The secured rental income for the first 3 years amounts up to 4% of the property’s purchase price per annum.
One of the greatest advantages of the program is that your property will be managed by the in-house Aphrodite Hills Property Management company, ensuring first-class services by fully certified and well experienced team, with more than 15 years of experience in the field. The Aphrodite Hills property management company is located at the Resort, offering more than 70 tailor-made services 24/7.
OTHER BENEFITS UNDER APHRODITE HILLS RENTAL GUARANTEE PROGRAM
Free furniture, landscaping and equipment;
Resort common expenses are covered;
Property management fees are covered;
Property owners are allowed 4 weeks free personal usage per annum (or more as agreed);
The property is maintained and looked after all year round;
Rental properties are successfully promoted during high and low seasons, and guests are offered a variety of unique services and privileges at the resort.
Above all, the greatest benefit is the peace of mind that comes with the guarantee of rental income.