Below are a list of frequently asked questions for landlords. If you can’t find what you’re looking for, please contact our office.
- Why choose Sulets?
Honesty – We believe in honest, transparent, fair dealing. Unlike most other agencies we make no secret of our fees and we won’t charge you extra for what some agencies call additional services.
Endorsed by Loughborough University – We’re proud to be the only student accommodation agency endorsed by Loughborough University, alongside our long-standing ties with Leicester’s Students’ Unions. No other agency can offer you this level of trusted access across both university communities.
A different approach to lettings for landlords – Launched in September 2011, Sulets is a joint venture between De Montfort and Leicester Students’ Unions. We are a unique charity dedicated to providing high quality housing and a fair service to both landlords and students.
Increase your reach – The University of Leicester and De Montfort Students’ Unions were our founding members and still play a role in our operations. As a result Sulets can offer you unparalleled marketing with direct, on campus access to over 20,000 students. No one else can offer you this level of marketing for your property in Leicester or Loughborough.
- What services do you offer?
Sulets offer one type of service – Sulets Leased.
Sulets Leased Service – You lease your property to Sulets for a fixed term at a flat rate and we guarantee your rent. Sulets has a unique position in law to be able to offer a Leased Service to landlords which is exempt from the Housing Act and changes to the from the Renters’ Rights Act.
Sulets will then sub-let your property to a group of tenants and take over the day-to-day management of the property. Your property will be returned to you at the end of the lease empty and in a similar condition to the start of the lease, allowing for fair wear and tear.
The service is fully inclusive for property owners and tenants. We will hold a £300 float from you to cover minor repairs.
There is no set up fee, management fee or VAT to pay. The landlord agrees to let the property to Sulets, when Sulets has found suitable prospective occupiers. Instead of a set up and management fee the agent is entitled to keep the difference between the rent reserved by the lease and the rent payable by the occupiers. Our current charge is 15% (no VAT) of the rent payable by the occupiers.
- Will the Renters’ Rights Act affect me?
No, our unique charity status means our Leased Service falls outside the scope of the Renters’ Rights Act, so none of the changes it introduces apply to you.
Leasing directly with Sulets means:
- Full exemption from the Renters’ Rights Act, no exposure to the new tenancy rules, notice periods or court processes it introduces
- Guaranteed rent for the whole term, whether or not the property is occupied
- A fixed-term tenancy agreed upfront, so you know exactly when your property is handed back
- Monthly rent paid direct to your account
- No requirement to register on a landlord database or licensing scheme
- Peace of mind dealing with a trusted, established educational charity rather than a private landlord or letting agent
- One point of contact throughout, we handle tenant relations, rent collection, repairs and deposits so you don’t have to
If you’d like more detail on how the Act affects landlords generally, see our separate guide.
- How is the rent paid?
We pay rent monthly as standard, direct to your bank account. If a termly schedule in line with the tenant’s student loan dates would suit you better, we’re happy to arrange that instead, just let us know.
- How much rent can I charge?
We agree a market rent with you, based on the quality of the accommodation, the size of the bedrooms and the location. Our team will talk you through this when they inspect your property.
- What about deposits?
Sulets Leased Service – Due to our special status, we don’t have to register deposits with a deposit scheme and have no requirement to comply with deposit protection rules. Sulets hold deposits in a separate client account. This means that we can deal with deposit issues far easier than an ordinary agent would at the end of the tenancy if there is damage in excess of fair wear and tear. We currently collect a standard deposit of £300 per person for 3-bed-plus houses, and £350 per person for 1–2 bed properties.
- What happens if a tenant doesn’t pay their rent?
Rent is guaranteed by Sulets under the Leased Service, so this isn’t something you need to worry about.
- What happens if a tenant leaves the property during the year?
This is also covered by our Leased Service rent guarantee, you’ll continue to receive your rent as normal, regardless.
- Do the tenants have a full year long contract?
Sulets leases your property from you for a full year (or less, if you join the service partway through the year). We let to tenants for a 52-week period, of which 44 or 48 weeks are chargeable to them. The property is usually left unoccupied in August so we can carry out any necessary maintenance and redecoration before the next tenancy begins.
- Who pays for damage and how is the amount decided?
At the end of the lease any damage a tenant is responsible for is deducted from their deposit. Sulets will carry out a pre-tenancy inspection and produce an inventory which will be given to the household to make any comments within seven days of occupancy. We will use this at the end of the tenancy to determine damage. We also carry out three interim inspections during occupancy to keep on top of the condition of the property. We use a depreciation calculator based on the Tenancy Deposit Scheme’s Product Lifespan Guide. This helps us to calculate the value of an item, depending on its age and original cost and gives both parties transparency over how much will be charged.