Rent Guarantee

There are two scenarios when relating to Rental Guarantee - Agency Guaranteed Rent and Rental Guarantee Insurance.

Agency Guaranteed Rent

Within Alto, you'll need create two property records - a Head record and a Sub record.

• The Head record has the true landlord of the property as the landlord, and the agency as the tenant
• The Sub record has the agency as the landlord and the true tenant as the tenant

Head record

1. First, add the Head property record
   For more information on Adding a new property, click here
2. Then, make changes to the Head property record as follows:
   Click Appraisal on the side menu
   1. Click the Pre Appraisal tab to edit the property address by adding the word HEAD after the Street name
   2. Click the Post Appraisal tab. In Proposed, enter the guaranteed rent amount that the landlord is expecting. Then, in Management Type, select Part Managed and edit the Letting Fee and Management Commission to 0.00%
3. Click Actions
4. Click Instruct, then click OK
5. Click Portal Publishing
6. Ensure Include all portals/Include is unticked so it doesn't upload to the portals. If you do need to untick, click Update portals to confirm the property isn't uploaded
7. You can now add further details to the property record
8. Click Save

After the Head property has been added, it can be cloned.
For more information on Cloning an existing property, click here.

Sub record

1. Once done, you can make changes to the cloned Head record to modify it into the Sub property record, as follows:
   Click Appraisal on the side menu
   1. Click the Pre Appraisal tab to edit the property address by adding the word SUB after the Street name
   2. Click the Post Appraisal tab. In Proposed, enter the rent amount the agency are charging the tenant
2. Click Actions
3. Click Instruct, then click OK
4. Click Portal Publishing
5. Ensure Include all portals/Include is unticked so it doesn't upload to the portals. If you do need to untick, click Update portals to confirm the property isn't uploaded
6. Click Property on the side menu
7. In the Owner(s) field, search for and select the agency name
8. Click Actions
9. Click Change Status and select Available

On the Head record, you can now go through the application process to create the tenancy for the agency.

Then, on the Sub record, you can go through the application process and create the tenancy for the tenant.

For more information on Creating and starting a tenancy, click here.

Tenant has paid rent

Receipt the rent in from the Tenant on the Sub record.

Generate the Landlord Statement for the Sub record.

Pay Landlord (Agency) the amount showing on the statement.

Transfer this amount from the Client/Rent account to your business account.

Receipt in the guaranteed rent amount on the Tenancy on the Head record.

Transfer this amount from your business account to the Client/Rent account.

Generate the Landlord Statement for the Head record.

Pay Landlord the amount showing on the statement.

Tenant hasn't paid rent

Receipt in the guaranteed rent amount on the Tenancy on the Head record.

Transfer this amount from your business account to the Client/Rent account.

Generate the Landlord Statement for the Head record.

Pay Landlord the amount showing on the statement.

Rental Guarantee Insurance

This is an insurance policy, no actions are required within Alto.

For more information on Receipting rent from a rent guarantee insurance company, click here.