Landlords FAQ
|
ITEM |
High Street Agent |
Tribute Property Solutions |
|
Monthly Rent : |
£1,250 |
£1,000 |
|
Annual Rent : |
£15,000 |
£12,000 |
|
Minus: |
|
|
|
Typical void period 1.5 months: |
£1,875 |
£0 |
|
Annual tenant finding fee 5% : |
£750 |
£0 |
|
Annual management fee 12% : |
£1,800 |
£0 |
|
Inventory : |
£100 |
£0 |
|
Annual Rent : |
£10,475 |
£12,000 |
We are offering a simple deal. We lease the property from you for up to 3 years (or more) 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 out a property there are of course many variables to consider – as seen in the chart above. Too many hidden costs can eat away at your monthly profit. You may be asking yourself "why am I 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.
Landlords
Why not take advantage of our service and the benefits we have to offer. We believe you will never leave us, and instead choose to extend your contract over and over again. We work hard to maintain the best standards in all of the areas we operate in.
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 will take such great care of your properties that we guarantee to hand it back in equal or better condition should you choose to end your contract with us.
How do we do it? Well for one thing, we don’t have the overheads high street agents have.
Who are our Tenants?
We have been Landlords and Property Managers for a long time and therefore fully understand the importance of selecting only the best quality tenants for the property. All of our tenants are young professionals who are fully vetted prior to moving in. After all, from day one we are responsible and will have to deal with any lost rent, potential damage or misbehaviour. We also deal with calls, emergencies and in fact ALL tenant issues! You will never again have to worry about voids. A recent survey by Spare Room showed that most properties have a void period of at least 6 weeks per year!
Too good to be true?
Some Landlords may initially dismiss us as they can’t see where we would make our money, and experience has taught them how tough this industry can be! As we said it’s a simple concept – this is how we do it;
- With all the benefits and guarantees we offer, we pay you a slightly adjusted rate.
- As you can see from the above chart, you actually earn more at the end of each month.
- We become fully responsible for management of the property.
- The high end service we offer attracts marginally increased rents.
- We collect the rent, we then pay you, and the running costs.
- Our profit is the difference. Simple.
Let us put your mind at ease
We don’t have a specific area, but generally cover Portsmouth, Fareham, Gosport and surrounding areas. Please call us to see how we can assist you.
All types – but normally houses with a minimum of 3 bedrooms and 2 reception rooms. It can have parking or not, have a big garden or not, it doesn’t even have to be in good condition. If you’re unsure, please contact us to see how we can assist you.
After we have visited your property, usually within 24 hours we will make you a good offer based on current market conditions. The price we agree with you that day will be the price we pay for the duration of the contract, regardless of what happens to the market. If the property is vacant we could be signing contracts and paying the first month’s rent as quickly as the next day.
Yes, absolutely. We can take on all of your properties, please contact us to see how we can assist you.
We don’t pay a deposit to you, but each person who takes a room will pay an individual deposit to us. We register their deposit with a registered scheme for the duration of their stay, to safeguard against damage to your property.
We will set up a monthly standing order direct to your bank account for your rent. This will go out every month for the duration of the contract, guaranteed to always be on time.
Not at all. We don’t charge tenant finder fees or the usual sky high management fees. We make our money from the difference between what the tenants pay us and the rent we pay you.
No, we are your only point of contact. We deal with all of our customers, all phones calls, emails, viewings, meetings etc. We do all the legwork for you, so you can relax.
That’s not your problem, it’s ours. This very rarely happens in reality, but when it does we cover the cost and you will always receive your full rent in line with the contract.
Yes, we bring in our team and carry out a light refurbishment at our own cost. If there are larger maintenance works required to bring the property up to the high standard our professional tenants look for, we can help you complete the works at a reduced cost using our professional network.
As the landlord you remain responsible for all the usual repairs and safety checks, the difference is we will manage it for you. We can arrange everything for you, so you just have to confirm and pay. We always get quotes for larger maintenance work before proceeding.
We have a team of fully qualified tradesmen that we use for maintenance and general repairs. But if you have your own and would prefer to use them, that’s fine also.
We only allow working professionals or mature/postgraduate students into the property, we regularly inspect the house and you can too. We also have a regular cleaner of communal areas and a gardener/handyman to keep the property in great condition who will always report back to us any concerns they may see.
We will cover the cost to get it fixed immediately, then we will charge the tenant. You would only be responsible for normal landlord maintenance, i.e. gas safety check, PAT test on YOUR electrical appliances, keeping the hot water system, radiators and water systems working etc. Our contract will state our full responsibilities along with yours.
Lots of landlords can be put off by the idea of a shared property as they believe the houses will suffer more wear and tear. This just isn’t true when letting to Tribute Property Solutions. At the end of our contract the property is normally in a better condition than if rented by a high street letting agent. This is because we are very particular about who we let into your property, we have a fortnightly cleaner and also carry out minor maintenance repairs at our cost throughout the duration of our contract.
Not always. We take on fully furnished, part furnished and completely unfurnished properties. If you have previously rented to students, the furniture may not be the type our professional clients look for and would request it is relocated. Our customers are professionals and expect a higher standard of living than traditional student lets. This would be reflected in the offer we make you.
Once we take over tenancy at your property, if you didn’t want to you wouldn’t have to set foot in the house again until the end of our contract. Of course if you wanted to do quarterly inspections that’s absolutely fine. We will pay you the agreed rent each month via standing order, and we will give you updates on inspections and any maintenance required, including gas safety checks. We take all the hassle out of being a landlord, no tenant issues, no voids, no missing rents; just guaranteed rent and peace of mind.
We ask our landlords to provide us a minimum of 6 months’ notice if they do not intend on renewing the contract at the end of the term, and we will do the same. We ask for this to allow us to relocate our tenants in reasonable amount of time.
