LANDLORDS
HANDS-FREE, STRESS-FREE SERVICE FOR LANDLORDS
We have expertise in handling multiple tenants in one property. We take every care to source the right tenants in the first place, renting only to young professionals in full-time employment. We take care of organising referencing, deposits, inventories, check in and general enquiries.
We are your tenants:
We rent the property from you for three or more years and effectively become your tenants. If needed, we bring the property up to the requirements of our customers. We then rent the rooms on individual AST’s and take care of everything. As we are your tenants you will only ever have to deal with us.
When renting a property there are of course lots of variables to consider – as you can see from the example below. Too many hidden costs eat away at your monthly profit. At the end of the day you ask yourself ‘why you are doing it?’
We start paying you your guaranteed rent as soon as the property is ready to let. This could be from the day we sign the lease or as soon as any refurb is carried out depending on what work is required.
• No voids or loss of income. Just guaranteed fixed monthly rent for 12 months with a view to extend.
• No commission or management fees to pay.
• Dedicated team of experienced property professionals.
• No more unexpected calls from tenants.
• No more headaches, we take over the legal and administrative work for you.
• Maintaining property condition is paramount.
• Whether it’s for one unit or one hundred
How it works ?
In a Nutshell
We are offering a fairly simple deal. At a very basic level; We lease the property from you for 3 years + and become YOUR tenant. If needed, we bring the property up to the requirements of our customers – young professionals. We then rent the rooms on individual AST’s and take care of EVERYTHING. As WE are your tenants you will only ever have to deal with us. When renting a property there are of course lots of variables to consider – as you can see from the chart above. Too many hidden costs eat away at your monthly profit. At the end of the day you ask yourself ‘why you are doing it?’
We start paying you your guaranteed rent as soon as the property is ready to let. This could be from the day we sign the lease or as soon as any refurbishment is carried out.
Landlords
When most of our landlords take advantage of our service and benefit from the service, we have found that they never leave us, and instead choose to extend their contracts over and over again. We work hard to consistently retain the best standards in all areas.
We are not like high street agents – in fact we couldn’t be more different! Can you imagine a high street agent offering to refurb your property or arranging a fortnightly cleaner or a gardener? We take such great care of the properties that they are often in better condition on the rare times that we are asked to return one to the owner! How do we do it? Well for one thing, we don’t have the overheads most agents have.
Management with care
We work hard to consistently maintain the best standards in all areas. We are not like high-street agents; in fact we couldn’t be more different. Can you imagine a high street agent offering to refurb your property or arranging a fortnightly cleaner or a gardener? We take such great care of the properties that they are often in better condition by the end of the contract period than they were at the start. Consequently, we find that most of the landlords, who use our services, choose to extend their contracts over and over again.
Responsibility for tenants
We have operated both as landlord and agents for a long time and therefore really understand the importance of selecting only the best-quality tenants for the property. All of our tenants are young professionals who are thoroughly vetted prior to moving in. After all, from day one we take responsibility for any lost rent, potential damage or misbehaviour. We also deal with calls, emergencies and in fact all tenant issues. You will also never again have to worry about voids – a recent survey by Spare Room showed that most properties have a void period of at least six weeks per year so this is a significant factor.
Too good to be true?
Some landlords have initially said no to us because they can’t see where we would make our money, and experience has taught them how tough this industry can be. So how do we do it? As you can see from the chart above, the monthly rent we pay you may be slightly lower than high-street agents, however the benefits and guarantees we offer more than compensate so that your income actually increases. We become completely responsible for the management of your property and the various risks involved, while you receive guaranteed rental payments for the duration of our contract. Our profit is the difference. Simple.
Our guarantee to you
• You will always get paid even if the property is unoccupied.
• Money will arrive in your bank account on the same day every month.
• We will never charge you any fees or commission.
• There will never be any sneaky ‘hidden’ or ‘unforeseen’ costs.
• We will take great care of your property.
• You will at last have a truly ‘Passive Income’
Gas safe
We will organise a Gas Safe inspection on your behalf and be at the property to meet the engineer. This test is a legal requirement to ensure that all gas appliances in a property are safe. It must be renewed annually and there are serious penalties for not having a valid certificate. We keep a copy of the certificate and send the original to you.
Legislation
We will take care of any legal obligations and can help you to comply with all current relevant legislation, ensuring everything is current and up to date. This includes PAT certification, furniture/fire regulations and smoke/carbon monoxide detectors.
Deposits
We do not pay a deposit to you but we do take deposits from all our customers which are then secured in a Government-backed deposit protection scheme. We use DPS – Deposit Protection Service. This money would be used for repairs if the tenant caused any damage the property.
Insurance
As the owner of the property you are responsible for building insurance which usually includes an amount of contents insurance. A residential insurance will not be adequate and you will need either a buy-to-let policy or a specialist HMO policy. We have public liability insurance. We advise our customers to obtain their own contents insurance.
ID
Before we take control of your property we require 2 x proof of ID and proof of ownership of the property.
Inventory
Before we take over the property you may decide to obtain an inventory from an independent company. Or if you prefer we can arrange this for you.
Inspections
You are welcome to inspect the property at any time by giving us at least 24-hours notice. We also carry out regular inspections and deal with any issues as they arise. We have good relationships with our customers and quickly deal with any issues they may have.
Legal
If you have a mortgage you will have to obtain ‘Consent to let’. If we agree to multi-let your property, you will need to be on the correct
mortgage product. You will need to sign a warranty in our contract to confirm that this is the case.
During an ongoing contract, allowances should be made for the standard of the property at the start of the tenancy and for fair wear and
tear during the tenancy.
Complaints
At Vale of York Properties Property Solutions we understand the importance of customer service and want you to be completely satisfied at all times. If you are not happy with any aspect of our service we will deal with your complaint in an efficient and professional manner.
Maintenance
We will take care of the management of all maintenance jobs, large or small, on your behalf. We will obtain your permission before any major work is carried out and keeping in contact throughout the process. You will receive full invoices for your tax records. Alternatively you can use your own tradesmen if you prefer.
Termination
Should you decide for any reason to terminate the agreement between us, we require a minimum of six months’ notice. This is because we may have just signed a tenant in on a six-month AST, and we want to ensure that we can return the property to you in vacant possession.
Court
If there is ever a time when we have to remove a tenant via the court process (it has never happened to us yet) we will take care of the whole procedure and update you if so requested. This would not affect your monthly payments
Useful links
- The Property Ombudsman: www.tpos.co.uk
- Gas Safe: www.gassaferegister.co.uk
- Deposit Protection Service: www.depositprotection.com
- Green Deal: www.gov.uk/green-deal-energy-saving-measures/
