RENT GUARANTEED SCHEME
When you bought the property, you might have thought that it would be a passive income producing asset with little hassles. In reality it can be very involved and can be draining when it comes to dealing with bad tenants and bad management companies.
With us you can put all your headaches to rest and set your sight on a nice beach holiday. How you may wonder? We are offering a complete hands-off passive rental experience for landlords on long term contracts.
We’ll pay you a guaranteed income each month duration of the contract.
We don’t charge commission and there are no hidden costs, so no charges for property viewings, inventories or tenancy agreements. Instead, we offer you a cost-effective letting and property management service with contract of 3 years minimum.
We cover rent arrears and costs relating to breaches of tenancy (including legal costs) and we will deal with the cost and arrangements on utility bills and council tax.
We provide all internal repairs including boiler repair services. At the end of the contract your property will be returned to you with vacant possession
We will carry out inventory in the beginning of the contract, and we can contractually guarantee that we will return the property in its original state subject to fair wear and tear.
What else do we offer?
We work with landlords who own a single property, portfolio of properties or block of flats. Through our scheme, we'll provide you with:
Guaranteed Rent with no void
Interior renovation and cosmetic improvement to your property at our cost
A straightforward and professional commission-free letting and management service
We do relevant checks and pick the best tenants for your property
Contract terms of three to seven years - our aim is to be flexible to your needs
Regular property visits by your dedicated housing officer and regular reports
Guaranteed vacant possession at the end of the contract
Option to extend
Break clauses – flexibility
Contractual insurance and private insurance over your property
No requirement to be an accredited landlord
Scheme offers an enhanced repairs service and/or gas/boiler cover
Access to our emergency out-of-hours maintenance service
How can you guarantee the rent?
In the areas we operate in, we have built partnerships with reputable local companies, housing associations, supported living providers, charities since day 1. We also continuously find new partners and build relationships. We provide housing/private accommodation that they specifically require. Therefore, we already know the demand and have done our research.
Will my property be trashed?
We get asked this often and the answer is no. Due to high quality homes we provide we attract high quality tenants, the ones that look after your home. Professional inventories are done before moving in. We'll then carry out checks on this tenant as usual. Cleaners will go in weekly to maintain the standards and be our eyes and ears. We'll do inspections regularly every 3/3/6 months. We also do emergency inspection if anything is reported. Since we put our money in the refurbishment, it is in our best interest to look after the property more than any other agent.
Is this sub-letting? Is this legal?
Short answer is - yes, it is fully legal. We are still a management agent offering a complete service of what our landlords really want (no involvement and guaranteed yields). We take your property on a full management lease not a traditional AST. This is drawn up carefully by our solicitors who are fully aware of UK residential letting laws.
What am I really responsible for as a landlord?
You're responsible for structural problems, boundaries and roof issues of the property. We will not cover these. You are also responsible for safety certificates and compliant certificate mentioned below on this page. And of course having a bank account to receive money that we pay you monthly.
How about deposit for the property?
We prefer to invest cash in your property since day 1 for refurb & show real commitment rather than tying up our cash. So it depends on case by case basis. If we have to spend large cash up front, we will not be able to give you deposit. In other cases we are able to offer 2-4 weeks but it's then your responsibility to register with government deposit scheme.
Do we work directly with the council?
No we do not. We work with third party companies, non-profit and profit. We do not take on tenants directly from the council nor do we receive any incentives from the council.
However, we are always in touch with council for HMO licensing and compliance matters.
How much rent can we offer?
This will depend largely on the property itself and the demands of it. Sometimes location is also an important factor. However, typically we are able to offer 85% of the market rent and offer you all the premium services we mentioned above. Your property will be generating guaranteed income for the duration of the contract without void periods.
Let’s compare a traditional fully managed vs our guaranteed rent.
Over the long term, you typically make significantly more profit with our scheme as you can see from the table.
Which area do we cover?
Currently we cover London, Surrey, Northampton, Leicester, Birmingham, Coventry, Reading and Medway Kent. Anywhere else we may consider on case by case bassis.
What documents do you need?
Landlords are required to provide the following documents before we can allow tenants to move in:
If your property is an HMO you will need to have appropriate license in place or will be willing to apply for one.
Proof of Ownership
Please provide us with a copy of the deed or any other type of ownership documentation.
Gas safety certificate:
The Gas Safety (Insulation and Use) Regulations 1998 stipulate that all gas appliances must be inspected annually by Gas Safe Register registered engineer. A Valid Gas Safety record must be issued and updated every 12 months.
Electrical safety certificate
The Electrical Equipment (Safety) Regulations 1994 require that electrical equipment including wiring is safe. An electrical test certificate must be issued by the electricity board or a NICEIC registered electrician. This certificate must have been issued in the last six weeks, be an original (not a copy), and must be valid for a minimum period of three years.
Energy performance certificate
It has been a legal requirement since 1 October 2008 for all the landlords to have a valid energy performance certificate (EPC) for their property before it can be let. The EPC gives your house an A-G rating on energy efficiency and suggests ways to improve your rating. Your property will need to have an "E" rating or above. A valid EPC will last for 10 years and can be used for multiple tenancies within that period.
Valid current building insurance schedule
The right insurance product will be required. Do not worry we have expert insurance brokers on our team who can help you from start to finish.
The right mortgage product
If you own the property on a mortgage, you need to have the right mortgage product in place to avoid mortgage fraud. We have an expert mortgage broker on our team who can help you from start to finish if the product needs switching. We may ask to see your mortgage terms and conditions because we take protection and safety seriously for you and us.
For more information about letting your property with us, or to arrange an appointment with one of our negotiators, please email us on firstname.lastname@example.org or call us on 02034886463.
We'll discuss your needs, how our scheme works and whether it is suitable for you. We'll also undertake a free property inspection. This is where one of our negotiators will meet you at your property for a free inspection and rental valuation. During the inspection we'll take you through our property requirements. There will also be an opportunity for you to ask any questions you may have.
Win Legacy, Syon Lane, Isleworth, London, TW7 5NJ
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