Frequently Asked Questions
Frequently Asked Questions
Here you can find answers to the most commonly asked questions about London Flats services for landlords. If the question you need to ask is not listed here, please get in touch with us either via email Contact Us or by calling us on 02076161713.
Our fees | Valuing your property | Guaranteed rent | Property management & maintenance | Our tenants
How we make an offer | Void periods | Long-term tenancies | Sharing as the future | How you are contacted
What are your fees? Our fees are zilch – we charge 0% commission for all rentals and renewals with us.
Q: What are your charges for renting my property?
A: We don’t charge anything to our landlords for renting your property or managing it. We can afford to do this because we are not a typical estate agency and therefore our model is not based on commission. So throughout your time with us you can relax and enjoy your rental coming in in full as we won’t charge you a penny in commission, saving you thousands of pounds in fees.
Q: So how do you make your money then if you don’t charge me any commission?
A: We charge our tenants a slight premium on renting an individual room within your property. For that premium our tenants get to share with like-minded individuals in a safe and well maintained property with all the modern amenities they need including Wifi, weekly cleaners, easy access to train stations and a readymade community of other young professionals.
Guaranteed rent. We guarantee your rent directly from us.
Q: How is my rent paid?
A: We pay all our landlords a month in advance usually between the 1st and 10th of each month.
Q: What happens if one of your tenants falls into rent arrears or refuses to pay?
A: Your rent will be paid into your account each month regardless of whether we have full occupancy or not in your property. In the 9 years we have been in businesses we have only had two cases of unpaid rent from our tenants and this is because we are very selective about who we place in your property.
Q: What happens if you can't rent the rooms out?
A: We have been in the business for a quite some time and as a result we are incredibly good at what we do. There is a huge demand for our rooms because our rooms are situated in highly sought after locations in London and very well maintained. We find that we often do not have enough properties to meet the demand of our tenants so we can confidently say with authority that it is highly unlikely we will be unable to find tenants for our rooms. However, whatever we agree at the start of our tenancy we will honour for the duration of our contract.
Professional tenants and Mature Students.
Our tenants are young professionals and mature students.
Q: How do you find your tenants?
A: We advertise online through mediums such as spareroom, gumtree, as well our website and make good use of social media. We have also developed a number of relationships with well known companies, relocation agents and recruitment consultants and accommodation departments within the London Universities who approach us to find accommodation for their staff, interns and university students. We also get a lot of recommendations from our current and previous tenants.
Q: Do you find tenants from the council or accept DSS tenants?
A: We have never worked with any local councils to source our tenants and have no intention of doing so. Our business model is based on us being able to guarantee the rent to you and therefore we need to ensure that our rent is also guaranteed from our tenants. Our clientele are young working professionals who are often just starting out in their careers as well as mature students who often work to support themselves or have support from their family.
Q: What kind of checks do you do on your tenants?
A: We conduct full references on our tenants. We take current employment references, previous landlord references and passport copies, in addition for our full time students we take guarantors, and conduct full references on our guarantors. We are very selective about which tenants we take on in our apartments because it’s important to us that are tenants take pride in their homes as we take pride in the property, as well as fit in with our tenant community.
Q: How quickly can you make me an offer?
A: We know exactly what we are looking, so once we have seen your property we can tell you within 24 hours whether we can take your property on and make an offer on your property. We will always work with our landlords to work to a fair price that works for us as well as our landlords.
Q: How soon after viewing my property can we start the tenancy?
A: We take on properties quite quickly once we have made an offer provided there are no issues with the property that needs to resolved. All our paperwork is done online thereby ensuring your tenancy starts as soon as possible.
What type of tenants do you rent to?
Q: Aren’t people in shared accommodation mainly just student and back backers who will wreck my property?
A: Our clients are a combination of young working professionals, interns for major banks, consultancy agencies as well as full time mature students. Our tenant clients take pride in their properties and are proud to live in any of our homes.
Q: Why do people choose to share?
A: Unfortunately for many of our young sharers getting onto the property ladder is proving harder and harder as mortgages become more and more difficult to obtain. The impact of this means there is a higher demand for rental properties. As the demand has risen so has the rental prices which for many our tenants is now out of their reach. The only way most our tenants an afford to live and work in central London is by sharing cost of living in the capital and sharing one of our apartments is an welcome solution to many.
How much will you pay me?
Q: How do you work out what the market rental is?
A: We will always make you an offer we feel is fair and competitive. We base our decision on a number of factors, condition of the property, size and where your property is located. Once we agree a rate, you can relax knowing that you will receive the full amount in your account each month with no deductions for any fees ever.
Q; I have heard of companies that let to the council and they pay around 80% of the market value, is this how this works?
A: We have no dealings at all with the council or housing associations and do not intend to change this. We have a set criteria which we do not deviate from and certainly do not intend to.
Property management and free maintenance. We find the tenants, pay the rent and deal with any maintenance, leaving you headache free and your wallet a little fuller.
Q: How does the management work?
A: Once we take on your property we also take away the headache of property management and organising workmen to fix issues as and when they come up (unless you prefer us to use your workmen). We will always let you know when a problem arises and when solution we can offer to have it fixed. We have a partnership with British Gas who manage major issues such as plumbing, electrics and appliance covers and cover all these issues free or charge. For smaller issues we have our own workmen who work to a high standards and again cover these free of charge. For larger issues such as central heating issues, structural issues or appliance replacement we will arrange for a qualified tradesman to repair the problem and bill you accordingly. Alternatively if you have a preferred workman we will call your dedicated workman to repair the problem.
Q: I have my own preferred tradesmen, do I have to use yours?
A: We completely understand you may have your own contractors that you would prefer to use, and we would be happy to use your contractors provided they are fully qualified and insured to carry out the required work.
Q: What happens if the damage is something that is beyond normal "wear and tear"?
A: If the damage is something that is deemed to have been caused by our tenants, we will arrange to have this repaired at our expense.
Q: What happens if the damage is something that is beyond normal "wear and tear"?
A: If something happens at the property that is deemed to be the fault of our tenants - for example, a broken bath panel - we will fix it at our expense.
Q: What if someone locks him or herself out or loses their keys, will I be called out?
A: Our tenants will only contact us for any issues at all times. If our tenants lock themselves out we will arrange to give them access to the property and where necessary cut a new set of keys if needed.
Q: Why do you not charge for minor maintenance?
A: Our aim is to make your time with us as stress free as possible. One of the major issues with owning property is dealing with the various maintenance issues that arise and trying to find a reliable workman to turn up on time to do a good job. For us it made sense to cover the cost of any minor maintenance because we have excellent relationships with various contractors through our partnership with British Gas. This is a cost we have already factored into our business to ensure we provide the best service to our tenants, so our view is why not also pass on this cost saving to our landlords.
No voids ever while we are your tenants.
Q: If you have a void period will that affect the rent I am paid?
A: Your rent is never affected at any point during our tenancy with you, this is regardless of whether we have full occupancy at your property or not, this will never have any impact on your rent.
Long-term tenancies – giving us both the ability to plan ahead.
Q: How long do your tenancies last?
A: We like to sign long term agreements as we like to invest in our properties at the very outset of the contract. By doing so we ensure our properties meet the needs of our tenants, however we also need a few years to recoup our investment. We are always open to discussions however if for some reason you prefer not to have a long term agreement.
Q: What sort of contract do we sign?
A: We have a Company Let Agreement, which has been tailor made for our business.
Always in contact
Q: Do you send me monthly statements?
A: As one of our landlords you will have your own online account which you can log into at any time to see each rental payment that has been made to you along with details of any costs associated with your property. All documents will be available to view as a PDF: our contract, gas safety certificate and inspection reports, and we will also make use of photo uploads to show you the condition of your property.
Q: How often do you inspect your properties?
A: We carry out inspections every 6 months, however each flat is cleaned each week. Our weekly cleaner provides weekly updates on the condition of the flat and her reports include anything from maintenance issues that need to be addressed or to tenant behaviour. By having weekly updates we are able to address issues quite early on and deal with it quickly and efficiently.
Q: Can I carry out my own inspections?
A: Yes you are welcome to inspect the property at any time, we will organise a date that is convenient for you to inspect the property and discuss any concerns you may have.