It suits landlords who want certainty over everything else. If you’ve had void periods, late payments, or just don’t want to deal with tenants any more — it’s worth a conversation.
It also makes sense if you’re managing properties from outside London, if you have multiple properties and want less complexity, or if you’re thinking about how the Renters’ Rights Act 2025 changes your exposure. With Section 21 gone and periodic tenancies becoming the default, recovering your property under a standard AST is slower and harder than it used to be. Under a SmartSpace lease, we’re the tenant. That legislation doesn’t apply to us. Your terms stay exactly as agreed.
The trade-off is straightforward. Your guaranteed rent will be at or close to market rate, but you remove void periods, arrears, management time, and all the costs that come with them. Most landlords find the net position is similar or better over a full year.