Landlord FAQ

LET US PUT YOUR MIND AT EASE

WHAT IS IT YOU DO?

We work directly with the HR departments of several "blue-chip" London companies in providing living accomodation for their corporate employees who have re-located to London. Our typical customer is earning £30k pa minimum, aged between 25-40 and stays anywhere between 3-18 months. Often, the accomodation we provide them with is their final "stepping-stone" before they buy their own property. We do not under any circumstances allow children, pets or "couch-surfers" in the property.

 

WHAT IS THE DIFFERENCE BETWEEN US AND A LETTING AGENT?

Great question and one we are glad to clear up. On the surface we are very similar to an agent. However, unlike an agent we charge you no fees whatsoever. Also, the key difference between us and an agent is that an agent will promise to “GET you £xxx amount per month for your property”. We guarantee to “GIVE you that £xxx amount per month for the property”. Furthermore our agreed rental figure is fully underwritten and guaranteed till the end of our contract at no cost to you. We are not currently aware of any lettings agent in the market that provides this service (although we are happy to be proven wrong!).

 

HOW CAN YOU “GUARANTEE THE RENT”?

Another great question, we have a full rental guarantee insurance policy in place which underwrites our rental payments to you. This is guaranteed to cover all rents no matter what the circumstances. So, even if the property remains empty you get paid. We are more than happy to show you our policy.

 

I HAVE HEARD HORROR STORIES ABOUT “GUARANTEED RENT SCHEMES” –

No problem, like any industry there are many “unethical players” out there. For your peace of mind we would welcome you to inspect another one of our properties and/or ask us any many detailed questions as you like. We are also fully registered as a trading company (verifiable with Companies House) and as such would not get involved in any practices which may damage our business or invalidate any insurances we have in place. Furthermore, we believe in cultivating longer-term working relationships with all Landlords.

 

I HAVE HEARD OR BEEN OFFERED "GUARANTEED RENT" IN PAST WITH A REDUCED RENT OR HIGHER FEES -

We are aware that the market is full of opportunists who would seek to take advantage. However, be assured we would never insult any Landlord with a "below-market rent" or "reduced rent" (any fool can do that!) offer. Your property is worth what it is worth and therefore you deserve to receive a full market rent for it. In fact, in many cases we have been able to offer a rental figure considerably higher than the "market rent". We operate on a true win-win basis. Be very wary of anyone who is trying to offer you a reduced rent - they are not putting your needs first. We charge you no fees whatsoever!

 

YOU ARE JUST "IN IT FOR THE MONEY!"

We are a business, so naturally we are here to make a profit. However, if we do not put the needs and requirements of you (the Landlord) first and foremost then we do not have a viable business. We are investing in long-term relationships and without your total happiness then this model does not work.

 

WHAT AREAS OF LONDON DO YOU TAKE PROPERTIES ON?

We are currently working within the areas of West, North West and North London, but we are currently considering other areas of London. We also have sister companies around the area so if you are outside of our area, please contact us, we may still be able to help.

 

WHAT TYPE OF PROPERTIES DO YOU DEAL WITH?

All types – but normally houses or flats with a minimum of 3/4 bedrooms and 1/2 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, why not contact us to find out if we can help – if we cannot take on your property we probably know someone else who can.

 

HOW QUICKLY CAN YOU TAKE A PROPERTY ON?

Once we have visited your property, within 24 hours we will make you a very fair offer based on market conditions in your area. The price we agree to 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 the next day.

 

HOW LONG IS YOUR TYPICAL MANAGEMENT CONTRACT?

As we are interested in investing in long-term mutualy, beneficial relationships with Landlords our typical management contract would be 3-5 years. However, we do have break-clauses arrangements in place.

 

DOES THE PROPERTY NEED TO BE FURNISHED?

Not necessarily. We take on fully furnished, part furnished and completely unfurnished properties.

 

HOW DO I RECEIVE RENT PAYMENTS?

We will set up a monthly standing order direct to your bank account for the agreed rent. This will go each and every month for the duration of the contract, guaranteed to be on time each month.

 

WHAT ARE YOUR FEES?

Believe it or not we don’t take fees from Landlords! Not a single penny. Nor do we charge tenant finder fees or the usual sky high management fees – we do that all inclusive! We make our money from the difference between what the customer pays us and what we pay you – simple.

 

IN YOUR VIDEO YOU MENTION A LIGHT REFURBISHMENT?

Yes, we bring in our design team and carry out a light refurbishment at our own cost (if needed). If there are larger maintenance works needed we can help you complete the works at a reduced cost.

 

I HAVE A WHOLE PORTFOLIO OF PROPERTIES; DO YOU TAKE ON MULTIPLE HOUSES FROM ONE PERSON?

Yes that’s not a problem. We can take on 1 or 20 houses from you, provided we feel we can help you achieve your needs with them.

 

I HAVE SOME FRIENDS WHICH ARE ALSO LANDLORDS, COULD YOU HELP THEM TOO?

Yes we could. When you recommend a friend we pay you a referral bonus of £500 per property that we take on. That could equal a lot of money, depending on the number of friends you have!

 

HOW MUCH WEAR AND TEAR CAN I EXPECT TO SEE AS IT WILL BE A SHARED HOUSEHOLD?

Sometimes landlords are put off by the idea of sharers in their property as they believe the houses will suffer more wear and tear. This just isn’t true when letting to Assured Property Management. At the end of a 3-5 year contract the property is normally in a better condition than if rented by a typical letting agent. This is because we are scrupulous about who we let into the property, we have a fortnightly cleaner and also carry out minor maintenance repairs at our cost throughout the duration of our contract. Plus, as we do not allow children, pets or couch-surfers in the property wear and tear will not be as large an issue as in other types of lettings.

 

DO YOU HAVE YOUR OWN TRADESMEN?

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.

 

HOW CAN I BE ASSURED THE PROPERTY WON’T GET DAMAGED?

This has never happened to us. There are many ways to assure you here. Firstly we only allow employed corporate professionals into the property (again, no pets, children or couch-surfers), secondly we regularly inspect the house and you can too, and thirdly we have a fortnightly cleaner of communal areas and gardener to keep the property in great condition. Furthermore, if you feel anything is damaged then is comes out of our pockets, which is not something we like to happen!!

 

WHO WILL PAY FOR ONGOING REPAIRS?

As the landlord you will still be responsible for all the usual external 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.

 

WILL I HAVE TO DEAL WITH THE TENANTS?

No, we are essentially now your tenants. 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.

 

WHAT HAPPENS IF ONE OF YOUR CUSTOMERS DAMAGES SOMETHING IN THE HOUSE?

We will cover the cost to get it fixed immediately, then we will charge our customers. 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.

 

WHAT IF ONE OF THE CUSTOMERS DOESN’T PAY OR IS LATE PAYING?

That’s our problem not yours. This very rarely happens in reality, but when it does we cover the cost and you receive your full rent as promised.

 

WHAT INPUT WILL I HAVE WITH THE PROPERTY ONCE I SIGN A CONTRACT WITH YOU?

Once we take over tenancy at the 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 regular inspections that’s fine too. 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.

 

WHAT HAPPENS IF I WANT TO END MY CONTRACT WITH YOU OR VICE VERSA?

We ask for you to give us a minimum of 6 months notice and we would do the same for you. We ask for this to allow our customers to find a new home without the stress of doing it in a short time frame.

 

WHO ARE YOU??

More than fair question – as we believe in full transparency we would insist upon you inspecting our documents (ie passports, proof of address, bank statement etc) and copying for your own records. Naturaly, we hope you will do likewise.

 

I AM UNSURE IF I AM RENTING OR SELLING MY PROPERTY?

No problem, we are happy to discuss potentially buying the property (again, no fees). Talk us through your needs and requirement and we will see what can be done to find a solution to suit you.

© 2015 Assured Property Management.