If its ‘stress and hassle free’ investment, your after then here it is!
Our Guaranteed Rent option is perfect for Landlords who want to be worry free and who do not have time to let and manage their property or do not want to manage their property at all! We offer our Landlords this option of Guaranteed Rent. You will get the same amount of income every month, even if the property is vacant. Once you’ve signed contracts with us, we then become responsible for your property. We’ll market the property and rent to tenants. These tenants are referenced and credit checked. From this point any tenant problems, rent arrears and property voids will be our responsibility. No more tenant issues or stresses for you! We will take care of everything for you. All you do is check your bank account once a month and see the money hit your account and we will do the rest for you. All utility bills will be taken over by us and we will be responsible for them so you won’t have to worry about any unexpected bills from non-paying tenants. We will then fully manage the property for you and take care of the house and the tenants. In some cases we can even take care of some of the repairs and general maintenance. On each property we will do an inventory, carry out property inspections and keep track of when Gas Safety and Electrical certificates are due. We will also take care of any legal obligations and help you to comply with all current legislation ensuring all is up to date including PAT certification, furniture/fire regulations and smoke/carbon monoxide detectors.
Our promise to you:
- You will get paid from us every month by standing order, even if the property is empty.
- You will not be charged any fees and or commission.
- You will never be billed for any hidden costs.
- We will take care of your property as if it was our own.
Finding suitable tenants:
We market properties once they’re looking amazing. To achieve this, we take time to stage the property in a show house style and take lot of nice photographs. All properties are advertised on our website and via other various methods of marketing.
Tenants who show an interest and apply for your property will be referenced and credit checked - a unique process within the HMO sector, we think you will be impressed!
Once the tenants are settled in we make regular inspections and also make sure the tenant is educated on how to care and maintain the property to a good standard throughout the tenancy. We also pride ourselves in keeping in regular contact with the tenants to make sure they are happy. We feel a happy tenant will stay longer and pay rent too - we thrive on making people happy!
Fully Managed service: does what it says on the tin - we manage everything from start to finish. We take photographs then market the property, reference potential tenants and carry out the necessary credit checks, day-to-day running, management and collection of rent(s). We want to make owning additional property and letting it as smooth and stress-free as possible.
Benefits of this service:
- Property staging and photography
- Advertising and marketing
- Referencing and credit checks on potential tenants
- Prepare agreement and assist tenant with moving in
- Obtain and secure deposit
- Manage and communicate with tenant throughout the tenancy
- Collect any rent and pay you every month
- Visit property fortnightly
- Manage any maintenance and repairs
- End of tenancy Check-Out and report
- Serve any notices on tenants and prepare court documents
Management of HMO Properties:
We have a wealth of knowledge when it comes to the letting of rooms and single units and have created a system and set procedures to help with the day-to-day running and management of them.
We visit each HMO we look after every two weeks to ensure our tenants are happy and meet council guidelines for good quality management.
We keep a record of all inspections and fire alarm tests for each HMO so should the council wish to see any proof or paperwork, we are be able to issue this to them for you.
For all HMOs we create a detailed inventory, carry out fortnightly property inspections and keep track of when Gas Safety and Electrical certificates are due.
We also help you to comply with all current legislation and make sure all is current, including PAT certificates, furniture is in line with current fire regulations and smoke/carbon monoxide detectors.
COSTS OF SETTING UP A HMO:
First of all comes the cost of preparing the property into a bona fide HMO. These include: (between £200 & £600 each depending on work needed to fit doors correctly)
Ensuring good quality, fire safety approved furniture is put into the property (this depends entirely on what you use, we do ask for good quality furniture so it lasts and this way it generally comes with fire safety approval)
Having relevant fire alarm system wired into the property (approx. £1,500 - depending on system required)
Making sure there is a fire blanket in kitchen and a fire extinguisher on each landing (between £30 & £90 each)
Fitting of emergency lighting and luminaires in correct places (approx. £100 per section)
Please refer to your “Landlord Guide for HMOs and Privately Rented Property” for more details and guidance on the above
Costs for the above preparations can vary dependant on standards of materials used and contractor chosen to carry out works.
You will then need to ensure the property has:
EPC (Energy Performance Certificate) which costs approx. £85 + VAT
Gas Safety Certificate which costs approx. £55 including VAT
Copies of these are to be displayed on a notice board in the hallway of the property.
We also advise you carry out professional Electrical Safety Checks. Please see “Electrical Safety Regulations - 1994” letter for more information.
Once the preparation is completed and you have obtained the above certificates, you may need to apply for a HMO license from the Local Authority. We will of course help and guide you with the application.
The normal cost for a HMO license is £300.00. This is valid for 5 years.
This may involve site visits from council officials to run checks on the property. You will need a license if the property fits the criteria below:
A property needs a licence if it has:
- 3 or more floors
- 5 or more people in the property
- Sharing of bathrooms, toilets and kitchens
When you have spoken to the local authority and or been granted a license, come and see us and we will get the property marketed FREE OF CHARGE for you.
Once we find suitable tenants for the property we will charge: A 10% management fee for the property £50.00 set up charge per room
Once tenants are in the property, council tax, water rates and generally gas and electric and included in the weekly rent. Some rooms/units are fitted with coin metres for gas and electric so therefore the tenant is responsible for ensuring this is topped up for their use. Some tenants do request internet access at the property but this is not obligatory for you to provide them with this.