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Guaranteed rent is a program in which a property manager agrees to pay you a set monthly rent for a defined period even if the tenant it placed stops paying. At JMZ Management, the guarantee runs for 12 months and starts once JMZ places a tenant it has approved for the program.
The idea is simple, but the details decide whether a program is worth it. This guide walks through how JMZ's Guaranteed Rent Program works, who qualifies, what it does not cover, and how to decide if it fits your rental.
A rent guarantee protects you against one specific risk: a tenant who moves in and then stops paying. For many owners, that is the risk that keeps them up at night, because a nonpaying tenant can mean weeks of missed rent while the legal process plays out.
Under JMZ's program, if the placed tenant stops paying, JMZ pays you the guaranteed monthly rent for the remainder of the 12 months. Collection and eviction are handled separately by JMZ, so your income does not depend on how fast that process moves.
What it does not cover matters just as much:
Eligibility comes down to who placed the tenant and when you enrolled.
If your home is vacant or about to be, that is the natural time to ask. Our guide on how to switch property management companies in Michigan covers the timing of a move.
A guarantee is only as strong as the screening behind it, which is why the manager offering it controls placement. JMZ screens every applicant over 18 for credit, criminal or civil litigation history, and income, following Fair Housing rules. Most properties require combined gross income of at least 3 times the monthly rent, and JMZ checks three years of residential history with landlord references. You still receive the full applicant packet to approve.
For more on what thorough screening looks like, read best practices for tenant screening.
The Guaranteed Rent Program has its own agreement, terms and fees, which are not the same as the standard management agreement. JMZ does not publish the program fee, so ask for the current terms and read them alongside your management contract. Questions worth asking:
JMZ also offers Eviction Protection for $25 per month per door. It covers the legal side of a nonpayment case: court filings, attorney time, one hearing, and a Writ of Eviction if needed. It does not replace lost rent. The Guaranteed Rent Program addresses the income side. Owners who mainly fear legal bills may choose one, while owners who need steady cash flow for a mortgage may look at the other.
Guaranteed rent tends to appeal to owners who:
If your home is in a strong rental area and you have reserves, standard management may be enough. Our team at the Novi office, which also handles property management in Novi, can walk you through both options with real numbers from a free rental analysis.
A manager agrees to pay a set monthly rent for a defined period even if the tenant it placed stops paying. With JMZ, the period is 12 months from placement of a program-approved tenant.
No. Only tenants JMZ found, screened and placed qualify, and the property must be enrolled under a signed agreement before placement.
No. JMZ's program does not guarantee leasing by any date; it starts once a qualifying tenant is placed.
JMZ pays you the guaranteed monthly rent for the rest of the 12 months and handles collection and eviction separately.
The program has its own agreement and fees, which JMZ does not publish. Call 248-284-6990 for current terms.
Guaranteed rent protects your income against a nonpaying tenant, but only under the program's rules: a JMZ-placed, program-approved tenant, a signed agreement before placement, and a 12-month term. Read the terms, compare it with Eviction Protection, and choose what matches your risk. At JMZ Management, your property is our business.
Want to know if guaranteed rent fits your home? Get a free rental analysis at jmzmanagement.com/freerentalanalysis or call 248-284-6990.
CONTACT US to learn more about professional property management in Michigan.