Below are a list of frequently asked questions for property owners. 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.

    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 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.

  • What services do you offer?

    Sulets offer two types of service, Sulets Premium and Sulets Managed.

    Sulets Premium Service – You lease your property to Sulets for a fixed term at a flat rate.

    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 meant to be fully inclusive for property owners and tenants.

    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.

    Sulets lease the property to the tenant inclusive of bills., We pay the internet and utility charges ourselves so you don’t need to worry about being left with unpaid bills.

    Once you have provided us with the required certification, to take the property on, Sulets will undertake the renewals for you, up to a limit of £500 per year.

    Sulets Managed Service – Sulets will rent the property for you, collecting the rent and dealing with all the day-to-day management issues on your behalf.

    With this service, you sign an Assured Shorthold Tenancy with the tenants. Sulets will manage the service, collecting rent and dealing with repairs.  We hold a £300 float from you to cover any minor repairs.

    Sulets charges a 13.2% (11%+VAT) management fee for one property and 12% (10%+VAT) each for two properties or more. In addition, there is a setup fee equivalent to 30% (25%+VAT) of the first month’s rent when we first rent the property. If the same tenants remain in the property in future years, no further setup fees are charged. If more than 50% of the tenants change in any year, then the setup fee is chargeable again.

  • How is the rent paid?

    We make payments direct to your bank account in line with the rent payment schedule that matches the tenant’s student loan payment dates. The first payment will normally be paid at the end of August and subsequent payment dates are in November, February and May.

  • How much rent can I charge?

    Sulets use recommended bands of rent which are determined by the quality of the accommodation, the size of the bedrooms and location. Sulets staff will discuss this with you when they inspect the property.

  • What about deposits?

    Sulets Premium 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.

    Sulets Managed Service – All deposits are DPS (deposit protection scheme) registered. DPS protect the deposit and act as an adjudicator in the event of a dispute. Sulets register the deposit when the payment is made and liaise with the tenants after the closing inspection in relation to any damage or cleaning costs. More information on DPS can be found at www.depositprotection.com

  • What happens if a tenant doesn’t pay their rent?

    Premium service: Rent is guaranteed by Sulets so you don’t have to worry.

    Managed Service: Sulets will send students reminders to pay their rent and will levy charges for late payments.

  • What happens if a tenant leaves the property during the year?

    Premium service: Rent is guaranteed by Sulets so you don’t have to worry.

    Managed Service: The tenant and their guarantor are held to contract until a suitable replacement is found to take over the tenancy.

  • Do the tenants have a full year long contract?

    Although Sulets will lease your property from you for a full year (or less if you enter the service at a later date) the premises will be let to our tenants for a 52 week period, of which 48 weeks will be chargeable. The property is usually unoccupied during July to enable any necessary maintenance and redecoration to take place.

  • 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 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.