Here are some of Parea living
most asked questions.

Responsibility for any repairs resulting from our or our guests’ actions will fall solely on us. While the owner maintains traditional responsibility for general property maintenance and structural issues, we offer to cover expenses up to £250 per year as a goodwill gesture to facilitate a more hands-off experience for owners. For instance, if a boiler repair costs £120, we’ll handle the payment. We’ll oversee all maintenance tasks, and if costs exceed £250, we’ll reach out to you for further discussion.

Guaranteed rent involves landlords, developers, and property investors receiving a predetermined rental income over a specified duration. This income isn’t contingent on tenants and is provided directly by the management company, irrespective of property occupancy. In our scenario, we ensure payment at the fair market rate and typically seek agreements spanning five years.

Upon signing the agreement, our finance team will establish a standing order to your bank account, ensuring that the agreed rental installments are promptly scheduled each month until the agreement’s conclusion. You will consistently receive the predetermined rent amount each month, irrespective of the property’s occupancy status.

As the contract draws to a close, we’ll communicate whether we intend to pursue an extension. If both parties opt for renewal, we’ll negotiate a new contract or extend the current one. If we mutually decide to part ways, we’ll return the property to you in a condition similar to when we initially acquired it, considering reasonable wear and tear.

Determining your rental offer involves several factors. Typically, we aim to provide a monthly rent payment within +/- 15% of the standard market rate for your property. Even if the rent falls slightly below the standard market rate, you may ultimately see more money in your pocket each month due to the cost-saving advantages of our guaranteed rent scheme.

For us to provide guaranteed rent, properties must be in satisfactory condition. We can handle minor decorative repairs if needed. If you’re unsure, please submit an application, and we’ll assess it for you.

We’re interested in properties of various sizes, but we’re especially interested in 2 to 5 bedroom properties.

Our focus lies in delivering premium short-term serviced accommodation to corporate clients and travelers seeking a home away from home. To meet the escalating demand from our clientele, we partner with landlords under a guaranteed rent arrangement. This entails a specialized and time-intensive service, allowing us to charge guests a nightly rate that surpasses our rental payments and operational costs. Our profit is derived from this margin, as we impose no fees on landlords participating in our guaranteed rent scheme. It’s a mutually beneficial arrangement: landlords receive their agreed-upon rent hassle-free while their properties are well-maintained, and our clients enjoy the top-tier accommodation they seek.

Yes. We are looking for stable long-term partnerships of 2 to 5+ years with our landlords. If you believe that you may need the property back at some point, we can discuss adding break clauses at certain set intervals into the contract before signing.

Rest assured, you need not concern yourself with this 😊 You’ll receive your rent every month without exception, even if the property remains unoccupied.