The Braemore Guarantee
Why are we so confident that we can give you more than any other property management company? Well, it’s because we’ve created guarantees that no other letting agency offer, to ensure that you get an unbeatable service.
- To let your property within 30 days, or we’ll pay the rent.
That’s the Braemore Guarantee, which shows how confident we are not only of being the best property management company in Edinburgh, but also the best property management company for you.
Our Guarantee To Let Your Property Within 30 Days
Our offer to you
Braemore Property Management understands that the single biggest way that we can add value to our landlords is to let their property at full market rents within the quickest time possible. We have an exceptional record in this regard.
Over the three years to 31st March 2011, the time it took us to let a property was on average 38% (15 days) less than the typical time to let in the Scottish market .
In the year to 31st March 2011 we let our properties in less than 30 days, compared to the Scottish average of 38 days. In Edinburgh, we let 1, 2 and 3 bedroom properties in 20.6 days on average, whilst the market average was 32.5 days . We let our Edinburgh properties typically 12 days (37%) quicker than the market average time to let.
We are so confident that we can let your property quickly, that we will guarantee to find you a tenant within 30 days. If we have not found a tenant within 30 days, we will pay you an amount equivalent to the asking rent, for the period from Day 31 until we do find you a tenant or 6 months, whichever is sooner.
The detailed terms and conditions of our offer are set out below:
Our Guarantee To Let Your Property Within 30 Days
1. Our 30-Day Guarantee
Braemore guarantees that it will find you a tenant for your Property within 30 days of marketing it, 'Our 30 Day Guarantee'.
The time that it takes to let the Property will be measured between the date that Braemore agrees to commence marketing the Property (the 'Marketing Date') and the date that a tenant is found for the Property. A tenant is deemed to have been found on the date that a holding deposit is paid.
If Braemore does not find you a tenant within 30 days then it undertakes to pay you an amount equivalent to the net rent (Asking Rent less any Management Fees (inc. VAT)) that would have been earned from Day 31 until the date that a tenant has been found and has paid a Holding Deposit or 6 months, whichever is sooner.
2. What if we find a tenant and they fail to complete a lease?
When Braemore finds a Tenant and takes a Holding Deposit from them, it is usual practice to allow the tenant a 3-week gap period before the start date of the lease. If Braemore finds you a tenant within 30 days, but the tenant fails to enter into the lease which has a start date within the 3 week gap period Braemore will then be required to find an alternative tenant, and any liability under our guarantee will run for the period from Day 31 until the alternative tenant has been found and has paid a Holding Deposit. For the avoidance of doubt, the Holding Deposit will be retained by Braemore and applied towards sums due under the 30 Day Guarantee and other Management Fees which are due, in the event that you have agreed to extend the 3 week gap period and the tenant subsequently fails to enter into the lease, Braemore will not be required to find an alternative tenant, and liability under the 30 Day Guarantee will be limited to the period from Day 31 until the Holding Deposit was taken from the tenant.
3. How are payments made to you?
So that the amount of the liability can be calculated accurately payments under our 30-Day Guarantee will be paid monthly in arrears. Where a tenant is found and a Holding Deposit paid, we will make any final settlement payment due under the Our 30 Day Guarantee within 7 days of the commencement of the Lease with the tenant.
4. Limitations of liability
Our 30 Day Guarantee is for a maximum period of 6 months after Day 30 (in there words, the date 30 days after the Marketing Date). No liability under Our 30-day Guarantee will accrue in relation to the Property for any period after the expiry of this 6 month period.
If an offer is made by a tenant to lease the Property at a rent, which is 95%, or more of the Asking Rent and the Landlord unreasonably declines the terms of any lease offered, our liability under the 30-Day Guarantee shall be deemed to cease on the day before this offer was made.
The landlord will be acting unreasonably if they refuse to enter into a lease which has terms similar to Braemore's standard tenancy lease. A copy of that standard tenancy lease is available on request.
If the Property becomes unfit for occupation as a result of damage occurring to it, our liability under Our 30-Day Guarantee shall cease on the day before such damage occurred. If the Property cannot be let because it lacks some required regulatory approvals then the date from which Braemore shall be considered to start marketing the property shall be deemed to be the day after the required regulatory consents have been obtained.
No liability shall arise under this agreement if you are entitled to recover an amount of rent, or an amount equivalent to rent from any other party, including but not limited to a tenant or an insurance company.
Our 30-Day Guarantee shall only apply to the first occasion on which the Property is offered for letting by Braemore and shall not apply to any further occasions on which the property is marketed after it has been first occupied by a tenant found by us.
The Property shall not be eligible to be covered under the Our 30 Day Guarantee if it has been managed by Braemore or an associated company within the previous 12 months. The offer only applies to properties under our Fully Managed service. Properties on our Let Only service are not eligible.
6. Governing Law
These terms and conditions shall be governed by and construed in accordance with the laws of Scotland. Any dispute arising under these terms and conditions shall be subject to the exclusive jurisdiction of the courts of Scotland.