We believe in honest, transparent, fair dealing and that’s why unlike most other agencies we make no secret of our fees.
We provide two services, ‘Fully Managed’ and our unique service the ‘Head Tenancy Scheme’.
Fully Managed Service
For the Fully Managed service we charge an initial set up fee of 25% of a full month’s rent plus VAT per property (Minimum of £300 plus VAT).
In addition, the management charge is 11% plus VAT of the collected rent throughout the year. If you place more than one property with us our management fee for all your properties will be reduced to 10%.
To protect your property, on the first let an inventory will be carried out by an independent inventory provider as part of the initial setup cost.
Once you’ve rented your property through SULETS, if 50% or less of your current tenants decide to renew their tenancy and stay in the same property for another year we will redraw the tenancy agreements and guarantor agreements and the only fee you will pay is the management fee, there will be no set up fee payable! If more than 50% of the group changes the standard set up fee will apply.
The service provides:
- Initial appraisal and valuation
- Tenant Selection
- Production of Tenancy Agreements
- Production of Guarantor Documents for each tenant
- Deposit collection and registration with the DPS
- Collection of rent and transfer
- Termly property Inspections with detailed reports
- Maintenance Service (arranging maintenance)
- Chasing of rent arrears
- Check Out & Closing Inspection
- Dilapidations & Arbitration of Bond Deductions
- Return of Deposit
The Head Tenancy Scheme
For the Head Tenancy Service, landlords pay a set Management Fee of £11 per tenant, per week, instead of the traditional set up and management fees.
Sulets sign a Head Lease directly with the landlord, so we then become the Tenant, and sublet the property to student tenants.
The benefits for the tenants (increasing your chance of securing tenants early by making your property more attractive than the competition) are:
- All utility bills are included so students pay one flat rate to cover their rent, gas, electricity, water, broadband internet and TV licence for the duration of the tenancy*
- Contents Insurance for their personal belongings is provided
- An opening professional clean & 6 mid term cleans are included to help them keep on top of their cleaning and prevent inter- tenant disputes
- There is a fast response time and out of hours service for repairs from our dedicated contractors
*£20 per tenant per week is deducted from the rent to cover all utility bills
The main requirements for landlords wanting to join the Head Tenancy Scheme are:
- UPVC double glazing throughout the property
- Sufficient loft insulation
- A modern, energy efficient boiler and heating system
- A room thermostat in the main communal area
- A high standard of decoration and furnishing throughout
- Modern kitchens and bathrooms
The benefits for you, the landlords are:
- Rent payments are guaranteed, in full on the due date (if the students don’t pay, we lose out, not you!)
- There is no VAT payable on our fees
- You are guaranteed the return of your property at the end of the lease
- An opening professional clean & 6 mid term cleans are included to maintain your property
- All safety certificates are included, with the exception of the Energy Performance Certifictes and HMO Licences*
- Boiler cover is included as standard
- Minor repairs, up to the value of £500 are covered
*Valid safety certificates must be provided at the start of the lease and will then be renewed by Sulets once they expire. The certificates covered include the Gas Safety Record, The Periodic Inspection/ Fixed Wiring Test and The Portable Applicance Test.