Are you estate agents?
No, we are not, we specalise only in letting houses on a room by room basis to professional tenants. We maximize your property and rental income through proactive ongoing management so you never have to worry and still receive all the benefits.
What types of properties do you deal with?
We typically take on 3-to-10-bedroom properties and anything in between.
How do you value properties, and how quickly do you make an offer?
We can rent your property directly from you for a fixed-term tenancy, paying you a guaranteed rent in-line, if not higher, than market rates. We value properties based on lots of different factors; location, conditions, size…the process is simple and straight forward – We will arrange a convenient time to visit your property to conduct a valuation. During that time we can answer any questions that you may have about how we work.We will send you a formal written offer within 24 hours – we will arrange a time to talk through the over the phone.Once everything is agreed will send a contract to you on the same day.
What type of contract would I have to sign?
We provide a commercial agreement which has been tailor-made for our business.. Effectively, this makes Relo your sole tenant for the period of your contract (typically 3-5 years) and gives us the authority to manage the property on your behalf.
Commercial tenancy agreements usually allow tenants to stay longer than the agreed term. Is this true?
Relo have opted out of certain sections of the 1954 Tenant Act which means we waive this so-called “security of tenure.” Therefore, we cannot stay in occupation longer than our agreed term, unless of course you wish to renew with us.
Once I’ve signed a contract with Relo, do I have to wait for you to find tenants before you start paying me rent?
No. We’re your tenant so we pay you rent whether or not the property is occupied. Of course we anticipate being able to find tenants quickly, but you receive full rent from us month in and month out, regardless of the property’s occupancy.
What happens if Relo goes bust during the contract period?
We hope this is hypothetical, but it’s an extremely fair question. The answer is: according to the contract we have with you, if we go out of business, the rent the tenants in your property have been paying will revert to you directly, and their deposits will remain with the Deposit Protection Service in case there are any damages or unpaid rent.
Will there be an issue with my mortgage provider in signing a commercial agreement?
As we have no security of tenure, there should not be an issue here. Still, we recommend that you seek authorisation from your lender before entering into any contract, just to be sure. We have specific documentation that you can give to your lender along with our contract that will appease any concerns they may have.
So you pay the rent directly?
Yes. Contractually, we’re your tenant, so we pay the rent. The money goes directly from our bank account to yours. We generally prefer to pay on the fifth of each month unless you specifically ask otherwise.
What are the charges associated with your service?
We charge nothing to our landlords for the service we provide. We make our money on the differential between the rent we pay you and the rent we collect from tenants. We charge our tenants a slight premium for providing high-spec rooms that are inclusive of utility bills and have weekly cleaners. (Though some maintenance expenses are passed through; see below). If you opt for our Full Management rather than Guaranteed Rent, we charge 18% of rents collected in each month for the first property. Multiple properties attract a lower rate depending on the number in your portfolio.
What if one of the tenants doesn’t pay, or pays late?
That does not make any difference to the rent we pay you. When a tenant pays rent late or fails to pay then that is our problem.
And what if the property market falls? Will you try and renegotiate our rent?
No. Whatever we agree at the start of our tenancy we will honour for the duration of our contract. From the landlords perspective, of course, that is one of the virtues of a long-term contract.
What about property inspections? How can I be sure that everything is always in order?
We conduct formal inspections every six months and send photos directly to your inbox. However, our cleaners keep us informed of the state of the property on a weekly basis and if they voice any concerns, we follow up immediately. And of course, Relos staff carry out informal inspections every time they visit a property, whether it is for a viewing or to check a gas meter. If you wish, we can arrange for you to periodically inspect the property yourself to make sure you are happy with the way we are managing things.
How is property maintenance handled?
Relo will take care of minor maintenance works however if there are any major works required such as a new boiler or roof, you as the landlord will be responsible financially for these.
I have a plumber I love. Can you use him?
Absolutely. If you have a tradesman or builder that you know or trust, we are happy to use your contractors to carry out works on your property; all we ask is that they are legally certified and fully insured.
What if your tenants cause damage to my property?
Remember, Relo is your tenant, so if something happens at the property that is deemed to be the fault of our tenants (e.g., a broken window) then we will cover the cost ourselves.
How much wear and tear can I expect?
Significantly, after three years of being managed by us, a property tends to be in better condition than it would have been had it been let by an estate agent. This is due to our regular maintenance regime (including weekly cleans) as well as the upgrades we make to the property at the time we take over its management (e.g., the installation of flat screen televisions and the replacement of furnishings).
How do you find and evaluate potential tenants?
For over a number of years, we have built relationships with well-known companies, relocation agents and recruitment consultants who approach us to find accommodation for their staff. We advertise via our website, online and in print and also receive many referrals via previous and current tenants. We also conduct thorough reference checks which include; Previous landlord reference proof of employment (including their employment contract or pay slips). Sight their passport in the office (in line with the right to rent regulations)Visa check (if applicable)Proof of address via a bank statement or utility bill Though we consider references from previous landlords and employers very important, we feel that gut instinct is even more vital. Someone can have impeccable references however if we do not feel they are suitable we will not accept them.
Aren't most of your tenants just irresponsible students?
No – but we get that question a lot. Our tenants are professionals usually in their mid-20s and 30s – we also have some postgraduate and mature students. If you’re afraid we’ll turn your house into a dormitory, we can promise you that won’t happen – we limit the number of tenants living at a property. (See the testimonials and case studies for further assurance)
What if someone moves out?
It is completely our responsibility to keep properties occupied. Whether full or vacant we still pay the full rent on time every month.